Global Fixed Income: Pushing Asia - Pacific Developing Bond markets onto the world st

[anju verma]

Just as the economies of the Asia-Pacific region are diverse, so are its bond markets. The level and direction of development varies significantly - from Japan's huge and highly advanced but largely domestic-focused market to Thailand's small but rapidly developing market. In between is Australia's moderately sized but open market, which enjoys a high level of international issuer and investor participation.
For the region to flourish as a world-class player - and provide growth opportunities for issuers, investors, market makers, and providers of infrastructure - Asia-Pacific's developing bond markets will have to confront several issues. A key need is to address the policies that have led to the development of two distinct markets: a local currency market and an offshore market that's denominated in U.S. dollars and euros and is the province of only the largest players.

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