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Fixed Income Commentary

Assessing scope for repatriation from French government bonds to Japan

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Assessing scope for repatriation from French government bonds to Japan      

Key points
  • Banks, life insurers may have pared French government bond holdings as carry appeal waned

  • Pension funds may be increasing holdings, but focus on passive management makes immediate repatriation unlikely

  • Repatriation from French government bonds to Japan unlikely to have major impact on JGB market

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