Emerging East Asian Local Currency Bond Markets: A Regional Update
Issue: September 2021
Financial conditions in emerging East Asia were broadly stable amid accommodative monetary policy stances despite some weakening signs. Local currency bond markets in the region expanded to USD21.1 trillion at the end of June on sustained issuance by governments. The ASEAN+3 sustainable bond market reached USD345.2 billion at the end of June, accounting for nearly 19% of the global sustainable bond market. This issue of the Asia Bond Monitor featured special boxes on emerging East Asia’s economic outlook, market capacity, and central bank’s asset purchase programs, debt buildup, and social risk in developing Asia.