Japanese Bought Most French Government Debt Since May in Octoberby
Japanese investors bought the most French government bonds in five months in October, while reducing holdings of German and Italian debt, according to data from Japan’s Ministry of Finance and central bank released Tuesday in Tokyo.
Investors bought 435.5 billion yen ($3.5 billion) of long-term French bonds. They cut holdings of equivalent German notes by a net 297.5 billion yen, and of Italian sovereign bonds by 137.2 billion yen.
They added 1.57 trillion yen of long-term Treasuries and 102.8 billion yen of Canadian debt.
The premium offered by Group of Seven peers over Japan’s government debt has averaged about 107 basis points this year -- the lowest since at least 1993 -- and dropped as low as about 73 basis points on March 31.