Asian local currency bond markets

BIS Quarterly Review  | 
14 June 2004
by Guorong Jiang and Robert N McCauley
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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.