Emerging East Asian Local Currency Bond Markets: A Regional Update
Issue: September 2022
Between 15 June and 24 August, long-term bond yields declined and yield curves flattened in emerging East Asia on dimming economic outlook, according to the Asia Bond Monitor September 2022 issue. LCY bonds outstanding in regional markets expanded to USD22.9 trillion by Q2 2022, growing 3.1% q-o-q on a record high quarterly issuance of USD2.4 trillion, led by the public sector to support economic recovery. Meanwhile, the sustainable bond market of ASEAN+3 grew by 4.0% q-o-q to reach USD503.5 billion. Issuance, which was dominated by the private sector, contracted by 5.2% q-o-q to USD61.0 billion in Q2 2022.