Intriguing RV graphs: JGB yields losing appeal among overseas real money investors
Key points
Appeal of JGB yields among overseas RM investors (crucial for stable JGB absorption), has recently diminished
Relative appeal of JGB yields after deducting forex hedging costs has declined compared to major nation government bonds, particularly 10-year maturities
Focusing on JGB market from perspective of overseas real money investors, specifically announcement of FY27 JGB issuance plan and stable JGB absorption going forward