Japan Love Affair With French Debt at Record; Bunds Spurned
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Japanese investors extended their love affair with French debt in June, capping two months when they snapped up securities equal to more than 80 percent of the European nation’s bond sales.
Investors bought a net 2.98 trillion yen ($29.3 billion) of France’s notes maturing in a year or more over the two months -- 1.055 trillion yen in June and 1.92 trillion yen in May -- according to data today from Japan’s finance ministry and central bank. That’s the largest buying spree on record and came as France auctioned a total of 25.95 billion euros ($34.8 billion) over the period.