Toushins Like MXN
Japanese investors have been slow to add to their overseas portfolio holdings this year despite the launch of the BoJ’s QQE program. Thursday’s MoF data revealed net selling of foreign bonds for a fourth consecutive week. This is not entirely surprising given recent developments − rising JGB yields have boosted the attraction of investing at home, while concerns over Fed tapering have reduced the appeal of US Treasury and EM Asia bonds.
Read the full report: UBS