Japanese investors dump record amount of US bonds in February

Pedestrians walk past an electronics stock indicator showing share prices on the Tokyo Stock Exchange and the New York Dow Jones closing numbers in Tokyo, on April 3, 2018.
Pedestrians walk past an electronics stock indicator showing share prices on the Tokyo Stock Exchange and the New York Dow Jones closing numbers in Tokyo, on April 3, 2018.PHOTO: AFP

TOKYO (REUTERS) - Japanese investors sold 3.924 trillion yen (S$48.13 billion) of US dollar bonds in February, the largest amount sold on record, Japanese government data showed on Monday (April 9), as rising costs of currency-hedging undercut their yield attraction.

It was their fifth straight month of net selling, during which they offloaded 7.675 trillion yen of US bonds. Instead they bought euro-denominated bonds, scooping up 1.059 trillion yen in the same month.