Japanese Investors Are Piling Into Longest Danish Mortgage Bonds
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The world’s biggest covered-bond market has seen a surge in foreign ownership, with Japanese investors in particular emerging as eager buyers.
Most recently, the offshore cash has flowed into the longest maturities in Denmark’s $500 billion mortgage-backed bond market. Jacob Skinhoj, chief analyst at Nykredit Markets, says it’s higher interest rates in the U.S. that are behind those flows.