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Foreign Investors Lodged Second Largest Ever Round Of Purchases Of Japanese Bonds

JAPAN

Weekly Japanese international security flow data from the MoF revealed that foreign investors deployed the second largest ever round of net weekly purchases of Japanese bonds last week. This was probably a mix of short covering and perhaps some deployment of capital owing to advantageous FX-hedged yield pickups on offer. We also remind that the JGB curve flattened on the week, so offshore capital may also have been deployed in the longer end, although we would expect long end demand to have been fuelled by domestic life insurers and pension funds given offshore market volatility and elevated FX hedging costs.

  • Net flows were relatively limited across the 3 remaining major metrics.
Latest WeekPrevious Week4-Week Rolling Sum
Net Weekly Japanese Flows Into Foreign Bonds (Ybn)-526.6-120.5-2392.2
Net Weekly Japanese Flows Into Foreign Stocks (Ybn)46.9-38.2-1842.3
Net Weekly Foreign Flows Into Japanese Bonds (Ybn)2216.8-67.32047.3
Net Weekly Foreign Flows Into Japanese Stocks (Ybn)4.5553.31228.0

Source: MNI - Market News/Bloomberg/Japanese Ministry Of Finance

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
HomepageBond Market NewsBank of Japan (BOJ) Market NewsEquitiesAT&T Market NewsBank of America Market NewsBulletMarketsFixed Income BulletsForeign Exchange Bullets

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