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Offshore & Local Investors Dump Bonds

JAPAN DATA
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Both offshore and local investors dumped bond holdings last week, see the table below. We saw offshore investors sell just over ¥1600bn in local bonds. This was the largest weekly outflow since mid March of this year. It also keeps the cumulative of flow momentum negative in this space over recent months.

  • Local investors sold offshore bonds, more than reversing the prior week's net purchases in this bond. The trend in this space also remains negative from a cumulative flow standpoint in recent months.
  • Equity flows were much more modest in an absolute sense. We did see local investors make net purchases of offshore equities for the first time since mid May.

Table 1: Japan Offshore Weekly Investment Flows

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Both offshore and local investors dumped bond holdings last week, see the table below. We saw offshore investors sell just over ¥1600bn in local bonds. This was the largest weekly outflow since mid March of this year. It also keeps the cumulative of flow momentum negative in this space over recent months.

  • Local investors sold offshore bonds, more than reversing the prior week's net purchases in this bond. The trend in this space also remains negative from a cumulative flow standpoint in recent months.
  • Equity flows were much more modest in an absolute sense. We did see local investors make net purchases of offshore equities for the first time since mid May.

Table 1: Japan Offshore Weekly Investment Flows

Keep reading...Show less