1. Issue bonds at near zero or even negative yield.
2. Buy US bonds.
The country is still one of the largest foreign US debt holders at $1.191T, and interest from this debt pays for a significant fraction of the interest on their own debt.
Someone who is betting that the negative yield changes favourably. The bet is the same in positive yield regimes as well. This could happen due to a combination of deflation forecasts increasing and expectations of interest rates being lowered even further.
1. Issue bonds at near zero or even negative yield.
2. Buy US bonds.
The country is still one of the largest foreign US debt holders at $1.191T, and interest from this debt pays for a significant fraction of the interest on their own debt.