Banks still cautious about rise in bond yields Yen-hedged 10-yr U.S. Treasuries yield more than 30-yr JGBs Insurers still not attracted by U.S. bonds
TOKYO, Feb 8 (Reuters) - Japanese investors have stepped up buying in foreign bonds after hopes of a massive U.S. stimulus boosted their yields, but many of them are still cautious, betting their bear trend could continue for a while.
Data from the Japanese Ministry of Finance showed on Monday Japanese investors bought 2.49 trillion yen ($23.6 billion) of foreign bonds last month, marking an eight straight month of their net buying.
A large part of it, however, has been driven by trust banks, which, analysts think, reflects flows from big public pension funds such as the Government Pension Investment Fund, rebalancing from foreign stocks.
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