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Emerging East Asian Local Currency Bond Markets: A Regional Update

Issue: March 2024

Uncertainty over US monetary policy and recent bank turmoil in the US and European banking sectors weighed on financial conditions in emerging East Asia, according to the March 2024 issue of the Asia Bond Monitor. The region’s local currency bonds outstanding reached USD23.2 trillion at the end of 2022. Issuance in the fourth quarter contracted 6.7% q-o-q to USD2.2 trillion on tight financial conditions. ASEAN+3 sustainable bonds outstanding stood at USD589.3 billion by end of 2022, on moderating growth of 36.7% y-o-y compared to 53.8% y-o-y in 2021. The 2022 AsianBondsOnline Bond Market Liquidity Survey noted an overall weakening of liquidity conditions in the region during 2022.

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• Download the full report.
  
• Executive Summary
  
• Developments in Regional Financial Conditions
  
• Bond Market Developments in the Fourth Quarter of 2023
  
• Recent Developments in ASEAN+3 Sustainable Bond Markets
  
• Policy and Regulatory Developments
  
• Environmental, Social, and Governance Performance and Its Financial Impacts: A Comparative Analysis of Companies in Asia
  
• AsianBondsOnline Annual Bond Market Liquidity Survey
  
• Market Summaries