Japan's Overseas Investors Cut Ultra-Long Bonds by 81.3B Yen in April, First Outflow Since December 2024

According to Jin10 citing the Japan Securities Dealers Association, overseas investors posted a net sale of 81.3 billion yen (approximately $512 million) in ultra-long Japanese government bonds in April, marking the first net outflow since December 2024.

Japan's 30-year benchmark bond yield climbed to its highest level since the security's inception in 1999 this week, as concerns over fiscal expansion and Bank of Japan policy normalization pressured prices. In contrast, domestic life and casualty insurers—traditional buyers of ultra-long bonds—posted net purchases of 327.2 billion yen in April, their first net buying since July 2025.