Developed Asian markets record debt issuance as shift to local currency accelerates
Updated
Updated · Nikkei Asia · May 4
Developed Asian markets record debt issuance as shift to local currency accelerates
5 articles · Updated · Nikkei Asia · May 4
Australia, Hong Kong and Singapore are seeing multiyear and, in some cases, record issuance volumes, according to Dealogic, as the trend quickened after the Iran conflict began on 28 February.
Soaring oil prices, turbulence in US Treasuries and expectations of higher-for-longer US interest rates have pushed investors and companies to cut dollar exposure and buy more Asian local-currency debt.
The move extends a broader diversification strategy by global fixed-income investors, with Asia's local debt market emerging as a beneficiary of war-driven volatility and changing currency preferences.
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