TOKYO -- Overseas investors have started unloading Japanese government bonds on speculation that the Bank of Japan will soon follow the lead of U.S. and European counterparts to revise its ultraloose monetary policy.
Most domestic investors, on the other hand, do not anticipate any change in the central bank's near-zero rate policy. The overseas camp, which accounts for over half of JGB futures trading, could reverse its sell-off once it becomes clear that the BOJ will defend its yield target.
