finance
Finance minister urges pension funds to increase domestic investments
Japan's finance minister called for households and pension funds to buy more yen-denominated assets. The remarks prompted an immediate rise in the yen and a decline in bond yields.
Jul 10, 2:23 AM·1m read2 sources
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Japan's finance minister called for the nation's pension funds to increase investments in domestic assets during a regular press briefing on Friday. The minister said one priority is to encourage households and pension funds, including the Government Pension Investment Fund, to increase their investment in Japanese financial assets. The fund holds ¥293.6 trillion in assets.
The comments caught markets off guard and led to an immediate jump in the yen and a drop in bond yields. Both assets had been under considerable stress earlier in the week.
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CorroborationModerate · 2 sources
