*** Little in the way of notable outright.....>

JAPAN: *** Little in the way of notable outright flow in this week's Japanese

international security flow data, worth noting that Japanese investors became

small sellers of foreign bonds after the huge purchases the week before.

- Looking at the 4-week rolling sums, worth noting that foreign investors have

extended their purchases of Japanese bonds, while Japanese investors remain

purchasers of foreign bonds & stocks based on the same metric, although 4-week

rolling cumulative bond purchases are well off their half fiscal year highs seen

at the back end of September (after dipping into negative territory in late

Oct/early Nov, lodging a second successive positive week this time out), with

4-week rolling foreign stock purchases by Japanese investors also well off the

early October peak.

- 4-week rolling cumulative foreign flows into Japanese stocks have turned

negative for the first time since late September, albeit at the margin.

- Chart: Japanese Weekly Int'l Bond Flows: https://tinyurl.com/y8bhj96l

- Chart: Japanese Weekly Int'l Equity Flows: https://tinyurl.com/y9ltsenv