Bonds News

Japan Kan: New bond issue shouldn't top Y44.3 trln

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TOKYO, May 11 (Reuters) - Japanese Finance Minister Naoto Kan said on Tuesday the government should make efforts so that new bond issuance for next fiscal year does not exceed the 44.3 trillion yen ($474.7 billion) earmarked for the current year.

“As the situation in Greece and euro zone show, when markets lose confidence in a country, it’s not just about fiscal conditions becoming severe. It poses huge damage to people’s livelihoods,” Kan, also deputy prime minister, told a news conference.

“Markets are becoming sensitive to sovereign risk so in order to prevent this from happening we need to make as much effort as possible so that issuance does not exceed 44.3 trillion yen.” (Reporting by Stanley White, Leika Kihara)