Japan Agricultural and Forestry Central Bank bets on U.S. Treasuries with a huge loss of $12.6 billion, warning to invest cautiously in Japanese government bonds

The Japan Agricultural and Forestry Central Bank reported a loss of $12.6 billion from investing in U.S. Treasury bonds and stated that it will adopt an "extremely cautious" attitude towards purchasing Japanese government bonds. The bank expects further interest rate hikes in Japan, and amid concerns over global fiscal health, the Agricultural and Forestry Central Bank has sold off a large amount of low-yield assets. Although the report indicates that unrealized losses have narrowed, the massive losses serve as a warning to investors that traditional safe-haven assets also carry risks under macroeconomic pressure. The newly appointed CEO is working on rebuilding the securities investment portfolio