---
title: "Macquarie Strategist Highlights Structural Buyer Shortage in Japanese Bonds"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286707881.md"
description: "Macquarie Group strategist Gareth Berry has pointed out a structural shortage of buyers for Japanese government bonds, with life insurance companies selling and the Bank of Japan as a net seller. Global concerns over the closed Strait of Hormuz could lead to rising oil prices, potentially causing inflation or increased fiscal spending. Japan's capping of domestic gasoline prices mitigates inflation risk but raises fiscal risk."
datetime: "2026-05-18T03:16:22.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286707881.md)
  - [en](https://longbridge.com/en/news/286707881.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286707881.md)
---

# Macquarie Strategist Highlights Structural Buyer Shortage in Japanese Bonds

Macquarie Group strategist Gareth Berry has highlighted a structural shortage of buyers for Japanese government bonds. According to Jin10, life insurance companies have been selling, and the Bank of Japan remains a net seller. As the Strait of Hormuz remains closed, global concerns are mounting over a potential critical point. This situation could lead to a significant surge in oil prices, resulting in either a massive inflation outbreak or a spike in fiscal spending to mitigate the impact, or possibly both. Japan has effectively capped domestic gasoline prices, reducing inflation risk but increasing fiscal risk.

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