Hiroyuki Kubota’s boat party for Japanese government bond traders and strategists made a comeback last autumn after a hiatus, marking a significant milestone for the veteran group. The resurgence of interest in the group by top hedge funds was fueled by the Bank of Japan’s shift in monetary policy, leading to increased volatility in Japan’s government bond market.
The gathering, comprised mainly of Japanese-speaking men in their 50s and 60s, was immersed in discussions about the market trends while enjoying sake and tempura. The Tokyo skyline served as a backdrop to their conversations, highlighting the camaraderie and expertise within the group.
Started in 1998 by Kubota, a former JGB dealer, the boat party has become a quasi-annual tradition for members of his online chat room for government bond traders. The event symbolizes the reemergence of interest in Japan’s sovereign debt among global financial players, underscoring the group’s relevance and influence in the market.