Thailand is right to be a strict doorkeeper for its bond market
Forty-two foreign issuers have applied for permission to sell bonds in Thailand’s domestic market. Today, regulators approved just 15 of them for the next six months. That is a sensible policy — the market is increasingly attractive to borrowers trying to cheapen and diversify their funding sources, but a stampede today would be in nobody’s long term interest.
This year has been a miserable one for most of the worlds financial markets, but one exception is Asias domestic bond markets.
Issuance in such currencies as Hong Kong dollars, South Korean won, Chinese renminbi, Taiwanese dollars and Malaysia ringgit has continued largely undisturbed by the storms raging
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