The Globe and Mail reports in its Thursday edition that Japanese bond yields have surpassed a three-decade barrier, attracting capital back home and reversing the previous trend of investment in global bond markets. A Reuters dispatch to The Globe reports that the 3-per-cent threshold is crucial for funding costs in Tokyo and reversing investment flows. As the global bond rout deepened on Wednesday, traders said part of the move rested on bets Japanese investors would retreat from overseas holdings. While there's no sign of Japan dumping its $2.4-trillion (U.S.) hoard in overseas debt just yet, global fund managers and a growing body of data are showing a steadier drawdown is underway. In Sydney, London and Singapore, bond dealers and asset managers have noticed the pullback of Japan's demand. Official data show Japanese investors have already sold a net 3-trillion yen ($18.7-billion (U.S.)) in overseas debt through Aug. 22, the biggest year-to-date outflow since bonds tanked in 2022. Citi analyst Ryan Ellis says: "This year [Japanese investors] have been less on accumulation and more holding their exposures reasonably consistent. They've got a home market bias for the first time in a lot of years."