Asian local currency bond markets
BIS Quarterly Review
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14 June 2004
The liquidity of Asian local currency bond markets varies with overall size, turnover, issue size and dispersion of holdings. Recently, returns on higher-yielding instruments have led local currency bonds to outperform US Treasuries in aggregate.
JEL classification: E440, G150, H630, O160.
The views expressed in this publication are those of the authors and do not necessarily reflect the views of the BIS or its member central banks.
