“Japan Funds Ramp Up Treasury Purchases Amid US Banking Turmoil”
May 12, 2023
“Japanese investors bought a record amount of Treasuries in the first three months of the year as concern over the US banking sector damped bets on Federal Reserve rate hikes…
Net purchases totaled ¥9.12 trillion ($68 billion) in the January-March period, the most in any quarter in the Asian nation’s balance-of-payments data going back to 2005. That’s about half the amount Japanese funds had sold in the preceding five quarters.
“Appetite for US Treasuries grew especially in mid-March when financial system risks emerged and speculation of the Fed’s prolonged interest-rate hike receded,” said Tsuyoshi Ueno, a senior economist at NLI Research Institute in Tokyo…
In addition to US bonds, Japanese investors also bought ¥373.8 billion worth of German sovereign bonds in March..”
https://finance.yahoo.com/news/japan-funds-ramp-treasury-purchases-041711315.html