Latest of the large Japanese insures to reveal strategy 25 Oct

  • likely to reduce holdings of hedged foreign bonds
  • reduced holdings of Japanese stocks in Apr-Sept period
  • plans to increase holdings of foreign stocks, properties, alternative assets between Oct-March

Similar themes from the insurers so far.

Meanwhile USDJPY still underpinned at 113.86 but large option expiries at 114.00 today continuing to cast a shadow.