Asia Bond Monitor
March 2019
Local currency government bond yields in emerging East Asia trended downward between 28 December 2018 and 15 February 2019, according to the latest Asia Bond Monitor. Bond yields edged lower partly driven by expectations that the United States Federal Reserve will slow its pace of monetary tightening in 2019. The report also noted the size of emerging East Asia's local currency bond market surpassed USD13 trillion at the end of December.
| No. | Issuer | Sector | Currency and Amount | Tenure | Issuance Date |
|---|---|---|---|---|---|
| 1 | Mizuho Bank, Ltd. | Financials (Banking) | THB3 billion | 3 years | 28 Sep 2015 |
| 2 | Hattha Kaksekar Limited. | Financials (Consumer Finance) | KRW120 billion | 3 years | 14 Nov 2018 |
| 3 | AEON Credit Services (Philippines) Inc.* | Financials (Consumer Finance) | PHP900 million PHP100 million |
3 years 5 years |
16 Nov 2018 16 Nov 2018 |
| 4 | CJ Logistics Asia Pte. Ltd*. | Logistics | SGD 70 million | 5 years | 26 Mar 2019 |
| KRW = Korean won, PHP = Philippine peso; THB = Thai baht; SGD = Singapore dollar
* Guaranteed by the Credit Guarantee and Investment Facility. Source: Asian Development Bank. |
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Weekly Debt Highlights
The People's Republic of China's gross domestic product (GDP) grew 6.4% year-on-year (y-o-y) in the first quarter of 2019, the same rate of growth as in the fourth of 2018. At its 18 April Monetary Policy Board meeting, the Bank of Korea decided to hold steady the base rate at 1.75%. The Bank of Korea also revised downward its estimates for 2019 GDP growth from a projection made in January of 2.6% to the mid-2% level. Indonesia recorded a trade surplus of USD0.5 billion in March, up from USD0.3 billion in February. Singapore's non-oil domestic exports fell 11.7% y-o-y in March after rising 4.8% y-o-y in February. Consumer price inflation in Japan rose to 0.5% y-o-y in March from 0.2% y-o-y in February. Personal remittances from overseas Filipinos rose 1.2% y-o-y to reach USD2.6 billion in February. The Philippines posted an overall balance of payments surplus of USD627 million in March, expanding from USD467 million in February and reversing the USD266 million deficit recorded in March 2018.
Data Highlights of the Month
Market Watch
Research
Bond Pricing Data
China, People's Republic of
Source: China Central Depository & Clearing Co., Ltd. (CCDC)
Indonesia
Source: Indonesia Bond Pricing Agency
Malaysia
Source: Bond Pricing Agency Malaysia
Philippines
Source: Philippine Dealing & Exchange Corp.
Thailand
Source: Thai Bond Market Association
- Corporate Securities - Corporate Securities Board Summary
- Government Bond Yield Curve
- Corporate Bond Yield Curve
ASEAN+3 Region
Source: Bond Pricing Agency Malaysia, Indonesia Bond Pricing Agency, and Thai Bond Market Association
- The AsianBondsOnline web portal is an ASEAN+3 Initiative supported by the Asian Development Bank and funded by the Ministry of Finance Japan, through the Investment Climate Facilitation Fund. Read more▸.