East Asia’s local-currency bond markets on rise but still small compared with US and Japan
Nov 24th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
East Asia’s local-currency bond markets grew 15% in the third quarter from a year earlier as governments and companies took advantage of lower interest rates to fund spending, the Asian Development Bank said Tuesday. Outstanding local currency bonds in emerging East Asia stood at $4.2 trillion at the end of September 2009, up 14.8% over 12 months and nearly eight times more than at the end of 1996, shortly before the onset of the Asian financial crisis. However, the market remains small compared with the US and Japan.