At first glance, it looks like the biggest conundrum in global markets. Foreign investors have for years consistently increased their holdings of Japanese government debt. Their share of this market, on which yields are minimal or negative thanks to the Bank of Japan’s quantitative easing policy, stands at more than a tenth.
乍一看,這像是全球市場中最大的謎題。外國投資者多年來一直增持日本政府債券。他們持有的份額已達到十分之一以上,而由于日本央行(BoJ)的量化寬松政策,日本政府債券的收益率極低,甚至為負值。
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