[Japanese investors sold US $29.6 billion worth of US bonds in the quarter, a new high since the second quarter of 2022] The balance of payments data released by Japan on Wednesday showed that in the three months ended March 31, Japanese investors sold a total of 4.67 trillion yen of US treasury bond bonds, institutional bonds and local government bonds, equivalent to US $29.6 billion, a new high since the second quarter of 2022. In February of this year, the overnight index swap market showed that traders had expected the Federal Reserve to cut interest rates twice this year; After the situation between the United States and Israel impacted the situation in Iran, crude oil prices rose by about 50%, and market inflation expectations rose. Interest rate pricing shifted to betting on the Federal Reserve raising interest rates.