Japan Funds Buy Record Amount of Italian Debt After EU Stimulus
- They also purchased Aussie debt for the fifth straight month
- Italian bonds drew demand on relatively high yields: NLI
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Japanese investors bought an unprecedented amount of Italian sovereign bonds in July just as the European Union clinched a massive stimulus package to help the bloc overcome the economic impact of the coronavirus pandemic.
Funds from Japan bought a net 372.7 billion yen ($3.51 billion) of Italian debt, after selling 56.1 billion yen of the nation’s bonds in June, according to preliminary portfolio data from the Ministry of Finance released on Tuesday. They also added 465.4 billion yen of Australian debt in July, in a fifth straight month of purchases.