Japan sells $87.8B in U.S. Treasuries
Reports indicated that Japan sold $87.8 billion worth of its foreign securities holdings, including U.S. Treasury bonds, in August to finance a record intervention of $96.4 billion to support the yen. This intervention occurred amid the Japanese government's efforts to bolster the national currency amid its declining value and was part of market stabilization operations carried out in cooperation with the United States. Despite a significant decrease in foreign holdings, its impact on the prices of 10-year U.S. Treasury bonds was limited, although approximately 70% of Japan’s foreign reserves were invested in U.S. Treasury bonds.
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