There are growing signs of a global reluctance to embrace environmental, social and governance (ESG) principles, with talk of greenhushing emerging in many pockets of the bond market. Yet, Japan’s top regulatory bodies and issuers are eager to embrace ESG and, in particular, to continue growing their transition bond market, seeing its potential for ushering in change and reaching net-zero commitments.

Japan’s sovereign, supranational and agency borrowers are among the most well regarded and highly rated in the international debt markets. Yet they are not immune to the volatility caused by the new US administration under president Donald Trump or the pressure from contrasting monetary policies implemented by different central banks. Timing deals well, being nimble and having diverse sources of funding are all expected to be critical in the year ahead.

◆ A new social bond issuer is born ◆ Agency opts for domestic currency for debut, keen to print again ◆ First Swedish SSA with a social use of proceeds bond

◆ 10 year 'surprise' reopens euro covered market ◆ Concession needed to seal the deal ◆ Trade lands through OATs

Development bank wants to encourage adoption by showing how new standard can integrate with existing green bond issuance

Swiss market resilient, but Trump test is set to be a roadblock

Issuer in market as ceasefire with Gaza is under pressure after Hamas stopped the release of hostages

Senior banker replaces climate scientist

Insurers look to make holding more capital-efficient while more RMBS buyers get comfortable with junior bonds

Bond market veteran on funding through crises, how banks can do better, and Cuddling Monsters

Long term structural demand remains despite AI disruptions, but issuers could change funding preferences

Big fund managers are giving way to anti-climate crusaders

Markets may not be shut for too long, and African sovereigns have managed debt well

Sovereign pays at least 25bp of concession but points to healthy demand after broader spread widening

The dollar market is going to be an unreliable friend for some time

Sovereign bonds have suffered a brutal eight days, like other emerging markets

◆ Paper is a 'must buy' for some accounts ◆ Pricing breaks trend and tightens 3bp ◆ Orders total over €40bn

AfDB's hybrid is main comparable for pricing CAF's benchmark dollar debut but roadshow feedback also holds key

◆ First EGB syndication in three weeks breezes through primary ◆ Sovereign rides recent upgrade momentum ◆ Quick execution, measured pricing and sizing approach

There's an audience for the right story even in chaotic markets

BWICs spike and spreads widen but market remains constructive

DocMorris announces Sfr200m rights issue expected in May

Stock drops 17% in highly volatile market

Deal follows steep share price fall