insto - Australian financial markets

Japanese investment grade debt offerings this week totaled US$7.2 billion in proceeds from 18 issues, the third largest week ever for this activity.  Large issues included US$1.1 billion from Mitsubishi UFJ Trust & Banking, US$1.8 billion from two offers by Nippon Telegraph and Telephone, and US$729.8 million from Honda Motor.   Investment grade volume for Japan so far this year totals US$67.6 billion from 176 offerings, a 15 per cent increase over the same period in 2008 when volume was US$58.9 billion, and the biggest year-to-date start on record.

Credit markets continued their strong performance on Thursday despite an auto bankruptcy, pandemic fears, bank capital concerns and declining growth.