Foreign investors sell ¥4.03 trillion of Japanese government bonds in biggest outflow since early 2023

Sep 8, 2026 00:57 (47d ago)

Foreign investors sold Japanese government bonds during June and July.
¥4.03 trillion left Japanese government bonds across the two-month period.
Japanese investors sold U.S. and Italian debt while buying German and French bonds in July.

Foreign investors sold a combined ¥4.03 trillion of Japanese government bonds in June and July, marking the largest two-month outflow since early 2023, according to preliminary portfolio-flow data from Japan's Ministry of Finance. Sales totaled ¥2.4 trillion in June and ¥1.63 trillion in July. The June figure was partly increased by quarterly bond maturities and repayments. Japanese investors meanwhile reduced holdings of U.S. and Italian sovereign bonds in July while buying German and French government debt.