Analysts at BBH remain struck by the pace of Japanese investors selling foreign bonds as they sold a record amount in the three-week period ending April 21 (JPY4.1 trillion or ~$37 bln).
“Over the same period, Japanese investors sold about JPY12 bln of foreign equities. Foreign investors have been net buyers of Japanese bonds (JPY305 bln) and stocks (JPY1 trillion) in the same period. It was the fourth consecutive week of foreign purchases of Japanese share, the longest buying streak this year. In the first 12 weeks, foreigners sold about JPY2.6 trillion of Japanese shares.”