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Mitsubishi UFJ Financial : MUFG trims U.S. sell-side team to expand capital markets business - source


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NEW YORK (Reuters) - Japanese mega-bank Mitsubishi UFJ Financial Group has cut six members of its U.S. team, four in sell-side markets research, sales and trading, and two investment-banking advisors, according to a source familiar with the matter.
The job reductions were made in the last week, the source said, as the bank expands its fixed-income trading and debt capital markets businesses, for which has been hiring since mid-2020.
With assets worth roughly $3.1 trillion, MUFG is hoping to use its sizeable balance sheet to venture further into primary and secondary fixed-income markets, the source said. Low borrowing costs globally and a stock market rally have produced a boom in capital markets activity this year. ....

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Japanese shares: Japanese shares end lower as virus resurgence hits risk appetite


Synopsis
The Nikkei share average was down 0.28 per cent at 29,668.74, as of 0202 GMT, while the broader Topix slipped 0.23 per cent to 1,953.80.
AP
Mega banks slipped, with Mitsubishi UFJ Financial Group losing 0.46 per cent and Sumitomo Mitsui Financial Group dipping 0.82.
TOKYO: Japanese shares ended lower on Wednesday, weighed down by cyclicals, as a resurgence in COVID-19 cases cast doubts over prospects of economic rebound, while falling interest rates dragged banking and insurer stocks.
The Nikkei share average was down 0.28 per cent at 29,668.74, as of 0202 GMT, while the broader Topix slipped 0.23 per cent to 1,953.80.
The expectations for the reopening of the economy shrank because rollouts of vaccines in Japan is much slower than other countries, while the number of new COVID-19 cases is on the rise, said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities. ....

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