Yen Slide Quickens as Pensions Head Overseas: Chart of the Day
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Japanese pension funds favoring overseas investments are helping send the yen down toward its biggest monthly loss this year, Nomura Securities Co. says.
The CHART OF THE DAY shows so-called trust accounts boosted purchases of foreign stocks and bonds to the most since 2009. The accounts capture pension fund flows including the $1.2 trillion Government Pension Investment Fund, Nomura says. The bottom panel shows the yen slumped to a six-year low this month as hedge funds and other large speculators increased bearish bets on the currency to the most since January.