伯克希尔哈撒韦的筹资计划受到股市投资者的密切关注，因为此前巴菲特购买了日本商社股份，并推动日经225指数创下历史新高。巴菲特在今年2月的年度致股东信中表示，伯克希尔哈撒韦公司对日本公司的大部分投资都是通过发行日元债券融资的。Market speculation suggests that Buffett may be seeking to increase investments in Japan.
According to the Securities Times app, 'Stock God' Warren Buffett's Berkshire Hathaway Company (BRK.A.US) is preparing to issue multiple yen bonds this Thursday. This move has sparked market speculation that the legendary investor may be seeking to increase investments in Japan.
Berkshire Hathaway launched a seven-part bond trade this week, with maturities ranging from 3 to 30 years. Except for the 3-year bonds, all bonds are priced higher than the yen bonds issued by the company in April with the same terms. Among them, the 10-year bond has a spread of 82 basis points over the mid-swap, up from 71 basis points in April; the 20-year bond spread is at 91 basis points, compared to the previous 78 basis points.
Berkshire Hathaway's fundraising plan has attracted close attention from stock market investors because Buffett has previously purchased shares of Japanese trading companies and helped the Nikkei 225 index reach historical highs. In his annual shareholder letter in February of this year, Buffett stated that Berkshire Hathaway's investments in Japanese companies are mostly financed through the issuance of yen bonds.
Berkshire Hathaway issues yen bonds again.
If, as some analysts speculate, Berkshire's investment choices expand to include other stocks such as banks, insurance companies, and shipping companies, this could provide a greater boost to the Japanese market.
Nomura strategist Tomochika Kitaoka believes that financial conglomerates such as Mitsubishi UFJ Financial Group, Sumitomo Mitsui Trust Group, and Sompo Holdings Inc. all possess characteristics suitable for Berkshire Hathaway's investment portfolio. However, some observers also think that given Berkshire Hathaway's recent frequent sales of Bank of America (BAC.US) stocks, Buffett's focus will still be on trade companies.
This transaction also serves as a key test for the demand of yen-denominated bonds. The widening premium of long-term bonds reflects investors' cautious attitude towards the Japanese interest rate environment.
It is widely anticipated that the Bank of Japan will maintain interest rates at the next policy meeting on October 31. After Japan's newly appointed Prime Minister Shizo Abe stated last week that it is currently not appropriate to raise rates, some economists have postponed their predictions of a rate hike by the end of the year.
