Japanese Buy Lula Bonds as Rates Jump Over 10%: Brazil Credit
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Japanese investors are pouring more money into Brazilian bonds than any region in the world after Latin America’s biggest economy raised interest rates the most of any nation this year.
Brazilian debt lured a net $7.6 billion from Japanese mutual funds in the first seven months of 2010, more than the U.S., Canada and Australia combined and exceeding the U.K. and Euro region, according to the Investment Trusts Association in Tokyo. In total, Japanese holdings of Brazilian debt rose 53 percent to a record $1.8 trillion yen ($22 billion).