Japanese pile into $A bonds in search of yield

Negative interest rates and share market weakness in Japan has revived demand from that country's investors for Australian government bonds, adding to upward pressure on the local dollar. Institutions such as Japanese life insurers and pension funds bought a net $2.5 billion in Australian government bonds and other securities in February, up sharply from $900 million in January, the Japanese Ministry of Finance says. Once bonds and other securities issued in Australian dollars by non-residents are included, the total for February climbed to $3.95 billion, almost three times January's total, the ministry's report showed. February marked the fifth...