Japan Investors Sell German Bunds, Buy Record Amount French Debt
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Japanese dumped German sovereign debt for a fifth straight month, poised for the biggest net annual sales on record, as they bought the higher-yielding notes of France, the U.S. and Australia.
Investors sold 1.05 trillion yen ($10.3 billion) of bunds in May, taking sales this year to 4.5 trillion yen, according to data from Japan’s finance ministry and central bank. They boosted holdings of French sovereign bonds by 1.86 trillion yen, a record in the data back to 2005, and added 731.6 billion yen of U.S. Treasuries and 129.2 billion of Australian securities.