Sumitomo Life make a statment on their investment strategy
- Will invest in foreign bonds without currency hedging when USD falls againts JPY
- Will continue to cut back on JGB buying
- Plans to increase holdings of US corp bonds Oct-Mar
The latest big Japanese financial/insurance company to announce they’ll continue to diversify away from Japanese bonds into riskier assets. Last week it was Japan Post Bank.
We might be able to attribute the jump in USDJPY from 113.55, when this story came out earlier, as the algos go front-running the news but the real FX impact will happen over time. We also don’t know what these guys constitue as a dip to buy but we might pick up chatter if they layer some orders in below current prices.
Ryan Littlestone
Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
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