Yield surge spurs biggest Japan buying of US bonds since 2016

TOKYO: Japanese investors bought the most US sovereign bonds since July 2016 in September, when the Federal Reserve raised interest rates for the third time this year, spurring an advance in the dollar and Treasury yields.

Investors bought a net 2.28 trillion yen (US$20bil) of the debt, according to balance-of-payments data from the Asian nation’s Finance Ministry yesterday.