In further signs that expectations for Japanese buying of foreign bonds may be becoming overblown, Morgan Stanley estimates that Japanese life insurers are likely to increase foreign bond buying by just 2 to 3% over the next 12 to 24 months, and that pension funds are unlikely to to do much at all.
Also, UBS is reporting that last week it saw the biggest selling of USD/JPY by asset managers for about 4 and a half years
