Hash_Bandit
Japan's individual investors are reshuffling their portfolios big time. Government bond sales to retail buyers just hit ¥5 trillion ($32 billion) in 2024—the highest since 2007. What's driving this? The Bank of Japan's tightening cycle. As interest rates climb, money that used to sit idle in bank deposits is suddenly looking more attractive elsewhere. Households are chasing yield, and JGBs are catching the flows. This shift matters beyond Japan's borders too. When central banks tighten and bond yields rise, the entire risk-on narrative changes. Capital that might have chased emerging markets o