Japanese investors bought the most British and Australian long-term sovereign bonds since 2011 in July, while dumping German Bunds in the first seven months of the year amid unprecedented European Central Bank stimulus.
Fund managers in the Asian nation net purchased ¥375 billion of gilts and ¥199 billion of Australian government debt, the most since at least September 2011, according to data from the Finance Ministry and central bank.
They acquired ¥1.1 trillion of U.S. Treasurys and sold ¥235 billion of German securities, the data show.