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Japanese Investors Continue To Buy Offshore Bonds

BONDS
Fixed Income BulletsHomepageBond Market NewsBulletMarketsBank of Japan (BOJ) Market News

Data showed another round of sizeable net buying of offshore bonds on the part of Japanese investors during w/e August 23, with the 4-week rolling sum of that measure nearing the highest level on record.

  • Japanese investors have been net buyers of offshore bonds for 4 consecutive weeks, while they have been net buyers of offshore equities in 5 of the last 6 weeks.
  • They appear to be using the JPY rally from cycle lows to deploy capital offshore, with the pricing of Fed & ECB monetary easing cycles also factoring in.
  • The cohort’s FX hedging costs have fallen but remain elevated by historical standards.

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

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Data showed another round of sizeable net buying of offshore bonds on the part of Japanese investors during w/e August 23, with the 4-week rolling sum of that measure nearing the highest level on record.

  • Japanese investors have been net buyers of offshore bonds for 4 consecutive weeks, while they have been net buyers of offshore equities in 5 of the last 6 weeks.
  • They appear to be using the JPY rally from cycle lows to deploy capital offshore, with the pricing of Fed & ECB monetary easing cycles also factoring in.
  • The cohort’s FX hedging costs have fallen but remain elevated by historical standards.

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