Bond Rout Drove Japan Funds to Offload $5.8 Billion of U.S. Debt
- Japanese turned net sellers for first time since August
- They also slashed a record amount of Australian bonds
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Japanese investors turned sellers of U.S. sovereign debt to the tune of 618.7 billion yen ($5.6 billion) in February as the global bond rout forced them to cut losses.
The net sales, the first since August, also came as they sold a record amount of Australian sovereign debt, according to Japan’s balance-of-payment figures released on Thursday.