TOKYO: Treasury 10-year yields at 3% may fail to entice Japanese investors unless the US dollar becomes more resilient, according to Sumitomo Mitsui Trust Asset Management Co.
“Japanese investors were buying Treasuries when a rise in yields was pushing up the dollar, but that correlation started to break down in December,” said Hideaki Kuriki, Tokyo-based chief fund manager at the company that oversees the equivalent of US$89bil.
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