CREDIT DAYBOOK AMERICAS: Junk ETF Sees Big Outflows; Nochu Sale

Investors withdrew a net $967.9 million from IShares iBoxx $ High Yield Corporate Bond on Monday, the most in one day since April 10. Japan’s Norinchukin Bank kicked off its first dollar bond sale since the agricultural lender said it expects massive losses on its investments in overseas bonds.

• Norinchukin started marketing a five-year green bond on Tuesday at a spread of around 155 basis points over Treasuries
  • Norinchukin’s dollar debt have ballooned since it first highlighted the bond losses in May
  • “We expect the new five-year green bond will be well received by the market due to the lender’s ...