SMFG loads up on foreign bonds
A 34% quarterly rise swells non-domestic portfolio to record size
Sumitomo Mitsui Financial Group (SMFG)’s holdings of foreign bonds rose by a third over the three months ending September 30, reaching its largest size since at least 2013.
The lender added ¥4.8 trillion ($32 billion) worth of non-Japanese bonds to ¥19.1 trillion.
Over the same period, domestic bonds, primarily Japanese government bonds, rose by ¥1.1 trillion, or 9.4%, to ¥12.9 trillion.
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