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According to the data of the Japan Securities Association, in July, foreign capital sold a net 1.28 trillion yen of Japanese short-term and medium-term treasury bond, the highest record since July 2006, while foreign capital bought a net 889.8 billion yen of treasury bond with maturities of more than 10 years. Mitsubishi UFJ strategist Keisuke Tsuruta stated that the market's expectation of the Bank of Japan accelerating its interest rate hike cycle and the weakening of the yen are the main factors driving net foreign sales.