[The Largest Two-Month Foreign Capital Outflow from Japanese Bonds in 2023] According to reporting by Zhitong Finance, preliminary portfolio flow data from Japan's Ministry of Finance shows that overseas investors sold a total of ¥4.03 trillion in Japanese government bonds during June and July, marking the largest two-month foreign capital outflow since the beginning of 2023. Data released on Tuesday indicates that foreign investors sold ¥2.4 trillion in Japanese government bonds in June, followed by an additional ¥1.63 trillion in July. The June outflow was partially driven by the maturity and redemption of quarterly bonds. In July, Japanese investors reduced holdings of U.S. and Italian sovereign bonds while purchasing German and French sovereign bonds.