70% of Japan's life insurers plan to cut holdings of foreign debt, mainly USTs

Nikkie with the report:

• Japanese life insurance companies plan deeper cuts to holdings of U.S. government bonds as the cost of protecting against the risk of a weak yen outpaces gains from higher interest rates.
• In investment plans released by Tuesday, seven out of 10 major insurers said they would cut holdings of foreign debt, mainly U.S. Treasury bonds, in the second half of the fiscal year ending March.

Link here for more (may be gated)

Selling USTs, if the $$$ are brought back to Japan, would be JPY JPY The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most-traded currency in the world behind only the US dollar and euro.The JPY is used extensively as a reserve currency and is relied upon by forex traders as a safe haven currency.Originally implemented in 1871, the JPY has had a long history and has survived multiple world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and the full oversight of the JPY by The Japanese yen (JPY) is the official currency of Japan and at the time of writing is the third most-traded currency in the world behind only the US dollar and euro.The JPY is used extensively as a reserve currency and is relied upon by forex traders as a safe haven currency.Originally implemented in 1871, the JPY has had a long history and has survived multiple world wars and other events. This was followed by the creation of the Bank of Japan (BoJ) in 1882 and the full oversight of the JPY by Read this Term-supportive. Would also send US yields higher, at the margin.

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ps. BOJ meeting is this week:

• Six major central bank decisions are coming up in the next 8 days. Here's what's priced in