Staying home for now

18 April 2013 By Andy Mukherjee

The Japanese still aren’t dumping their soon-to-be-debased yen. Resident investors brought cash home in the week after the Bank of Japan fired its monetary bazooka. Either the locals don’t believe the inflation threat, or they are wary of foreign assets. The latter is more likely.

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Large Japanese investors sold a net 548 billion yen ($5.6 billion) in foreign bonds, bills, and equities, between April 7 and April 13, according to data released by the Ministry of Finance on April 18.
Meanwhile, foreigners bought 1.1 trillion yen of Japanese securities, their second straight week of net purchases.
The jump in non-resident demand for Japanese equities, following the Bank of Japan’s April 4 announcement that it will double the monetary base in two years, was the biggest since records began in 2005.

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