The brighter side of Asia’s bond blues

After a feeding frenzy at the start of the year, Asia’s dollar markets are now suffering from long expected indigestion. Local debt liquidity is about to be tested as the region’s domestic markets will have to pick up some of the slack. Conversely, loans bankers, who have had a torrid time in 2012, could be forgiven if they now feel a sense of schadenfreude over their peers on the bond desks. Having had to watch their DCM colleagues poaching business for much of the year, they are ready to start bringing business back to their own desks.