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China Continues To Like Japanese Bonds

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currency_2 September 8, 2010 (Chinavestor) If the previous six months didn't convice you, perhaps the data from July will: China continues to be a big fan of Japanese bonds, buying more yen-denominated debt than it sold in July, marking the seventh consecutive month China has done so. China purchased almost $7 billion worth of Japanese debt in July.

The purchases of Japanese debt come as the U.S. dollar is trading at 15-year low against the yen. The greenback's weakness may be one reason China is seeking to diversify some of its debt investments. Japan’s benchmark 10-year bond yield fell to a seven-year low of 0.895 percent in August, according to data compiled by Bloomberg.

China purchased a record 735.2 billion yen of Japanese debt in May and followed that up by buying 456.4 billion yen in Japanese bonds in June. Japan's Ministry of Finance said the U.K. was the biggest purchase of Japanese debt in July, buying 3.1 billion yen worth of Japanese bonds.



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