Asian local bonds: stellar start — but what next?
It has been a barnstorming start to the year for Asia’s local currency bond markets. But the risk of foreign investors dumping their holdings puts the performance of Asian local markets into doubt for the rest of the year.
Banks and companies have already sold $195.8bn of local currency bonds in Asia ex-Japan so far this year, according to data from Dealogic (excluding auctions, money market transactions, and some other deals). That is a 44.28% jump from the $135.7bn sold over the same period last year.This expansion ...
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