Quite Limited International Net Security Flows Last Week, Some Trends Come To An End

The weekly international security flow data released by the Japanese MoF reveals that Japanese investors broke a run of 3 consecutive weeks of net purchases of international bonds last week, although the 4-week rolling sum of the measure continues to operate comfortably in positive territory, with last week’s net sales representing a relatively paltry amount.

• Last week also saw Japanese investors lodge the largest round of net weekly purchases of international equities since January, although the net amount was relatively limited in the grander scheme of things.
• International investors were net buyers of Japanese bonds for the second time in 3 weeks, although the record net purchases seen 3 weeks ago continue to dominate when it comes to the assessment of recent dynamics in that metric (as a reminder, the record purchases observed in that week likely represented notable short cover surrounding the most recent BoJ decision and the banking sector tumult).
• Finally, international investors were marginal net buyers of Japanese equities, ending a streak of 5 consecutive weeks of net sales.

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