Economics
Japanese Snap Up German, French Bonds While Shunning U.S. Debt
- Investors sold U.S. sovereign bonds for fourth month in Jan.
- Japan banks’ trust accounts bought record foreign debt in Feb.
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Japanese investors snapped up the most German and French sovereign debt in six months in January, while extending their selling spree in U.S. bonds into a fourth month.
Investors from the Asian nation bought a net 922.4 billion yen ($8.7 billion) of German notes in the first month of the year, the most since July, according to balance of payments data released by the Ministry of Finance Thursday. They purchased 1 trillion yen of French securities, while offloading 920.8 billion yen of American bonds.