Bond Market Data
Trading Volume
Data vary across markets. For details download spreadsheet.
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Trading Volume
Trading volume is an indicator of market activity. It is the USD value of local currency government and corporate bonds transacted in the secondary markets.
In cases where outstanding stock is growing rapidly, however, the turnover ratio would provide a better measure of trading activity and market liquidity. The turnover ratio indicates the frequency at which outstanding issues have been traded in the market. (See Bonds Turnover Ratio)
In cases where outstanding stock is growing rapidly, however, the turnover ratio would provide a better measure of trading activity and market liquidity. The turnover ratio indicates the frequency at which outstanding issues have been traded in the market. (See Bonds Turnover Ratio)
Note on the Data:
1. Where the reported value of bonds traded is the sum of sales and purchases (JP, ID, KR, PH, SG), the figure is divided by two to bring the volume in line with other markets.
2. Where the value of bonds traded is reported as a daily average (HK, SG), the daily average is multiplied by 252 (approximate number of trading days in a year) to obtain an annual estimate.
3. Specific data sources for each market are as follows:
CN: ChinaBond. Government and corporate bonds include those traded on the interbank market.
HK: Hong Kong Monetary Authority. Government bonds include Exchange Fund Bills and Notes.
ID: Indonesia Stock Exchange (IDX). Government and corporate bonds include all bonds listed on the IDX. Sertifikat Bank Indonesia are excluded because of lack of data.
JP: Japan Securities Dealers Association. Government bonds include short & long term Public offering, Municipal bonds, Government-guaranteed bonds, FILP-Agency bonds, and Transportation & NHK bonds. Corporate bonds include bank debentures, corporate straight and convertible bonds, Specified Asset Backed Securities, and Yen-denominated foreign bonds. Only value of bonds traded in the over-the-counter market is included.
KR: Korea Bond Web (KBW). Government bonds include Government bonds, Municipal bonds, and short & long term Monetary Stabilization Bonds. Corporate bonds include Special public bonds, Financial debenture, and Corporate bonds.
MY: Bank Negara Malaysia. Government bonds include Malaysia Government Securities, Malaysia Treasury Bills, Bank Negara Bills, Bank Negara Monetary Notes, Government Investment Instruments. Khazanah bonds, and Cagamas bonds. Corporate bonds include commercial papers, medium term notes, asset-backed securities and other corporate bonds.
PH: Bureau of the Treasury. Government bonds include Treasury bills and bonds.
SG: Monetary Authority of Singapore. Government bonds include Singapore Government Securities bills and bonds.
TH: Thai Bond Market Association (Thai BMA). Only Thai BMA registered bonds are included. Government bonds include government and central bank issuance, treasury bills, state-enterprise and specialized organization bonds. The value of bonds traded is reported at market prices.
4. Corporate sector trading volume is not available for Philippines and Singapore.
5. End-of-period exchange rates are from Bloomberg, LP.
2. Where the value of bonds traded is reported as a daily average (HK, SG), the daily average is multiplied by 252 (approximate number of trading days in a year) to obtain an annual estimate.
3. Specific data sources for each market are as follows:
CN: ChinaBond. Government and corporate bonds include those traded on the interbank market.
HK: Hong Kong Monetary Authority. Government bonds include Exchange Fund Bills and Notes.
ID: Indonesia Stock Exchange (IDX). Government and corporate bonds include all bonds listed on the IDX. Sertifikat Bank Indonesia are excluded because of lack of data.
JP: Japan Securities Dealers Association. Government bonds include short & long term Public offering, Municipal bonds, Government-guaranteed bonds, FILP-Agency bonds, and Transportation & NHK bonds. Corporate bonds include bank debentures, corporate straight and convertible bonds, Specified Asset Backed Securities, and Yen-denominated foreign bonds. Only value of bonds traded in the over-the-counter market is included.
KR: Korea Bond Web (KBW). Government bonds include Government bonds, Municipal bonds, and short & long term Monetary Stabilization Bonds. Corporate bonds include Special public bonds, Financial debenture, and Corporate bonds.
MY: Bank Negara Malaysia. Government bonds include Malaysia Government Securities, Malaysia Treasury Bills, Bank Negara Bills, Bank Negara Monetary Notes, Government Investment Instruments. Khazanah bonds, and Cagamas bonds. Corporate bonds include commercial papers, medium term notes, asset-backed securities and other corporate bonds.
PH: Bureau of the Treasury. Government bonds include Treasury bills and bonds.
SG: Monetary Authority of Singapore. Government bonds include Singapore Government Securities bills and bonds.
TH: Thai Bond Market Association (Thai BMA). Only Thai BMA registered bonds are included. Government bonds include government and central bank issuance, treasury bills, state-enterprise and specialized organization bonds. The value of bonds traded is reported at market prices.
4. Corporate sector trading volume is not available for Philippines and Singapore.
5. End-of-period exchange rates are from Bloomberg, LP.