Foreigners are Net Sellers of Japanese Bonds for Third Straight Week
Foreign investors were net sellers of Japanese bonds last week, as local bond prices fell after the Bank of Japan tweaked its bond yield curve control scheme to allow interest rates to rise more freely in line with increasing inflation.
Foreign investors were net sellers of Japanese bonds last week, as local bond prices fell after the Bank of Japan tweaked its bond yield curve control scheme to allow interest rates to rise more freely in line with increasing inflation.
Data from Japan's Ministry of Finance showed that foreign investors disposed of a net 166.1 billion yen ($1.16 billion) worth of long-term Japanese bonds last week in a third straight week of net selling.
Data from Japanese exchanges showed that foreigners pulled out 256.58 billion yen from domestic equities during the week, snapping a three-week long buying streak.
Yields on 10-year Japanese government bond JP10YTN=JBTC, which move inversely to prices, jumped 10 basis points last Friday after the BOJ adjusted its yield curve control scheme and offered to buy 10-year JGBs beyond the previous 0.5% target rate. The yield on 10-yr JGBs recorded a 9-1/2-year high of 0.655% on Thursday.
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