Japan’s GPIF Suffers First Loss in Six Quarters as Bonds Slump

Japan's Government Pension Investment Fund reported a loss of 1.7% in the three months through September 2025, marking its first quarterly loss in six quarters. The loss resulted from declines in global bond prices and appreciation of the yen. The fund did not immediately announce plans to rebalance its portfolio in response to the decline.

• Bloomberg — Japan’s GPIF Suffers First Loss in Six Quarters as Bonds Slump

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