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3 Apr 2013
Forex Flash: Uridashi market momentum remained weak in March - Nomura
FXstreet.com (Barcelona) - Nomura strategist Yujiro Goto notes Uridashi market momentum remained weak in March, despite issuance accelerating.
He comments that Uridashi issuance totalled JPY127bn (USD1.4bn), accelerating from the previous month (JPY92bn). He writes, “This is the biggest monthly new issuance since last November. While issuance accelerated, redemption in March is estimated to have accelerated more than issuance. As a result, net flow turned into net redemption in March, for the first time in five months.”
He comments that Uridashi issuance totalled JPY127bn (USD1.4bn), accelerating from the previous month (JPY92bn). He writes, “This is the biggest monthly new issuance since last November. While issuance accelerated, redemption in March is estimated to have accelerated more than issuance. As a result, net flow turned into net redemption in March, for the first time in five months.”