Reasons why Gold price kept plummeting even geo risks escalating.
Japan Rates & FX Japan’s insurers and GPIF are buying JGBs again, not selling — so why is the yen still near 40-year lows despite two BOJ hikes? Four forces are pulling at the yen right now, and none of them agree. By Dorian | ZMACRO Research — Tokyo, August 14, 2026 I. This is the Coupon Upgrade, Not an EXIT. In June, the head of asset management at Meiji Yasuda Life Insurance picked up the phone with Nikkei and said something that should have ended the “insurers are fleeing JGBs” narrative on the spot. The company was doubling its fiscal-2026 government bond purchase plan to more than ¥2 trillion — about $12.3 billion — because 30-year JGBs yielding near 4% looked, in his words, like a “perfect buying opportunity.” Meiji Yasuda planned to fund part of the order by selling off the low-yield JGBs it bought years ago, back when the Bank of Japan was still pinning
Premium research continues below.
Unlock to read the full report, framework, and trade path.