1. Bonds suffered their biggest decline in three weeks yesterday on concern Japan will sell Treasuries to bolster ailing financial institutions. 2. Government efforts to bail out ailing financial institutions have met with relatively stiff public opposition. 3. Japanese bonds fell as the collapse of Yamaichi Securities Co. is seen accelerating the use of government funds to help ailing financial institutions. 4. Japanese bonds pared gains as Tokyo stocks plunged, sparking expectations the government will be pressured to come up with measures to help ailing financial institutions. 5. Miyazawa added that public funds are not immediately needed to rescue ailing financial institutions, but should be made available. 6. Pronouncements like that have led the Bank of Japan and Ministry of Finance to hint at rescues for seriously ailing financial institutions before depositors get hurt. 7. Prime Minister Ryutaro Hashimoto said Saturday that depositors, but not ailing financial institutions, would be protected with public funds, the Nihon Keizai newspaper reported. 8. The cost of supporting Kizu and Hyogo Bank could be a short-term burden on banks with direct ties to the ailing financial institutions. 9. There are several ailing institutions that the Ministry would like to see acquired, or saved, by more healthy banks. 10. Traders will also look for signs of Japanese progress toward a plan to shore up ailing Japanese financial institutions. |
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