World's biggest pension fund posts loss in longest losing streak in two decades
Publishing timestamp: 2023-02-03 06:25:42
Summary
Japan's Government Pension Investment Fund reported its fourth consecutive quarterly loss, totaling 1.85 trillion yen ($14.3 billion). This marks the longest losing streak in 20 years, with losses for the first three quarters of the fiscal year totaling 3.71%, or 7.32 trillion yen. The Bank of Japan's unexpected widening of its target range for 10-year Japanese government bond yields in December sparked a sell-off in global bonds and stocks, which weighed on the value of the fund's foreign assets.
Sentiment: NEGATIVE
Keywords: asia economy, usd/jpy, bonds, business news, economic events, world markets,