Foreign investors dumped a record amount of Japanese bonds last month amid a global debt rout as major central banks rushed to raise rates to fight inflation.
Overseas funds offloaded 6.39 trillion yen ($43.9 billion) of Japanese bonds in September, according to preliminary data from the Ministry of Finance which is taken to mostly comprise of government debt. As a global bond selloff drove up yields sharply at the time, 10-year JGB yields climbed to the upper limit of the Bank of Japan’s curve control range, spurring additional purchases from the central bank.
