Asia Bond Monitor - September 2022

<p>This edition reviews developments in East Asian financial conditions and local currency bond markets. Long-term bond yields declined reflecting a dimming growth outlook while bond issuance achieved a record-high in the second quarter of 2022. </p><p><br></p><p>Yields on 10-year local currency government bonds dropped and yield curves flattened due to mounting risks and a dimming economic outlook between 15 June and 24 August. The record-high regional bond issuance during the second quarter was driven mostly by efforts to support economy recovery. Issuance in ASEAN member economies rose to USD418.1 billion growing 10.3% quarter-on-quarter accounting for 17.5% of regional bond issuance. The region's aggregate bond stock rose to $22.9 trillion at the end of June. Included in the report are market summaries for the PRC; Hong Kong China; Indonesia; the Republic of Korea; Malaysia; the Philippines; Singapore; Thailand; and Viet Nam.</p><p><br></p>