In the past month, Japan may have sold off some of its foreign securities assets, including US treasury bonds, to raise funds for its record scale intervention in the yen exchange rate. According to Japan's Ministry of Finance reserve data, at the end of August, the size of overseas securities held by Japan fell sharply by 87.8 billion US dollars compared to the previous month, a record high of decline. Analysts believe that Japan is likely to sell off short-term US bonds. This move can reduce the impact on long-term yields, and also try to avoid causing dissatisfaction on the US side.

In the past month, Japan may have sold off some of its foreign securities assets, including US treasury bonds, to raise funds for its record scale intervention in the yen exchange rate. According to Japan's Ministry of Finance reserve data, at the end of August, the size of overseas securities held by Japan fell sharply by 87.8 billion US dollars compared to the previous month, a record high of decline. Analysts believe that Japan is likely to sell off short-term US bonds. This move can reduce the impact on long-term yields, and also try to avoid causing dissatisfaction on the US side.