Japanese Investors Buy Treasuries and French Bonds and Sell Bunds and Gilts

Japan reported a slightly larger than expected July current account surplus earlier today.  The July balance has improved over June without fail since 2003.  Japan’s current account surplus is not driven by the trade balance.  In fact, Japan recorded a trade deficit of JPY1 bln on a balance-of-payments basis in July, its third deficit in …

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