Reported 2 days ago
Norinchukin Bank, a major Japanese lender, has reported an expected annual loss of over ¥1.5 trillion ($9.7 billion) as it aggressively sells off unprofitable foreign bonds due to rising global interest rates. The bank aims to offload more than ¥10 trillion in US and European sovereign bonds this fiscal year, following significant losses from its international investments. With net losses reaching ¥893.9 billion in the first half of the fiscal year, Norinchukin is under scrutiny as it seeks to realign its $304 billion investment portfolio amidst concerns over potential inflation and interest rate changes under a future Donald Trump presidency.
Source: YAHOO