获利了结叠加美联储鹰派，日本投资者大举抛售海外股债！

Core Viewpoint - Japanese investors have significantly withdrawn from overseas equity and bond markets in response to hawkish signals from the Federal Reserve, opting to lock in profits from previous market gains [1][2] Group 1: Market Reactions - For the week ending November 1, Japanese investors net sold 581.1 billion yen (approximately 3.85 billion USD) in foreign stocks, marking the largest weekly sell-off since October 4 [1] - Additionally, they reduced holdings in long-term foreign bonds by 354.4 billion yen and short-term bonds by 798.7 billion yen, indicating a cautious stance towards overseas fixed-income assets [1][5] - The MSCI World Index has declined by 1.6% this week, poised for its first weekly drop in four weeks [1] Group 2: Federal Reserve Influence - The hawkish comments from Dallas Fed President Lorie Logan, emphasizing a balanced labor market and sustained inflation above the 2% target, dampened expectations for rate cuts in December [2][3] - This shift in sentiment has prompted Japanese investors to reassess the risk-reward profile of their overseas asset allocations [3] Group 3: Contrasting Trends - In contrast to the sell-off in foreign assets, foreign investors have net bought Japanese stocks for the fifth consecutive week, purchasing approximately 690.1 billion yen in local shares, reflecting ongoing confidence in the Japanese market [5] - Despite this, the Nikkei 225 index has seen a decline of about 5% this week, with significant losses in technology stocks, highlighting the global market's impact on Japan [5] - Japanese long-term bonds experienced a net inflow of approximately 280.6 billion yen after two weeks of foreign capital outflow, while foreign investors also acquired short-term debt instruments valued at 1.83 trillion yen, indicating a preference for yen-denominated assets [5]