World’s Biggest Pension Fund GPIF Boosts Its Treasuries Holdings
- They account for 43% of GPIF’s foreign-bond holdings
- US bonds offer GPIF prospects for capital, income gains
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Japan’s Government Pension Investment Fund boosted its holdings of Treasuries to a three-year high as the dollar’s strength against the yen offset losses on the securities.
Resilient demand from GPIF, as the world’s biggest pension fund is known, suggests that elevated yields and a weak yen may support Japanese appetite for Treasuries, even if US interest rates are coming off recent highs as the Federal Reserve’s monetary tightening campaign nears its peak.