2.8万亿巨头出手！欧洲最大资管30年来首次看好日本国债

Group 1 - Amundi, the largest asset management company in Europe, has turned positive on Japanese government bonds for the first time in 30 years, joining a growing number of overseas investors with a long-term optimistic outlook [1][2] - The key triggers for this shift include Japan's political stability, economic improvement, and the Bank of Japan's inclination to raise interest rates, which are attracting institutional investors like Amundi and Jupiter Asset Management [2] - Following the recent election victory of Prime Minister Sanae Takaichi, Amundi has adjusted its position to "slightly overweight" Japanese bonds in its global fixed income and multi-asset portfolios [1][2] Group 2 - Over the past month, the yield on Japan's 30-year government bonds has dropped by approximately 60 basis points, reversing a trend that saw yields reach multi-decade highs before the February 8 election [3] - Amundi is constructing a steepening yield curve position by buying 10-year bonds while selling 30-year bonds, with the current yield on 10-year bonds around 2.1%, down from nearly 2.4% a month ago [3] - The improvement in Japanese government bond returns is expected to encourage domestic long-term investors to repatriate assets, contributing to market stability after a year of significant volatility [3][4]