Mammoth Japanese pension fund confirms boost to stock holdings.

Japan's $1T Government Pension Investment Fund (GPIF) plans to reduce its yen bond weighting to 60% from 67% and increase its allocation for Japanese stocks to 12% from 11%, as well as boost its investments in foreign equities and debt. The GPIF's move, which had been expected, comes amid turmoil in Japanese equity markets. Given the government's massive debt, the effect on bond yields will probably also be closely watched.