Europe and North America trip report: Conflicting views on super-long JGBs
Key points
We spent two weeks in Europe and US from July 13 and spoke with 40 overseas investors; views on JGBs differed by region and investor type
Europe-based investors were generally bullish on super-long JGBs and emphasized sector's cheapness on curve despite concerns about fiscal risks; Investors in North America, meanwhile, were more divided in their views
Methods of hedging currency risk also differ by region and investor type; many investors are pondering Japanese government's policy priorities