Highest Hedged Yields Tempt Japanese Investors to Italy: Chart

For Japanese investors hunting for yield but unwilling to take on currency risk, Italy stands out. Italian government bonds offer a yield of 1.2 percent over a decade after currency hedging, the highest among the five biggest sovereign debt markets and 24 times those in the U.S., according to calculations by Bloomberg. Even France provides hedged yields that are more than quadruple those of Treasuries, forcing Japanese to reassess what has traditionally been their favored overseas investment.

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