The outlook for Asian credit has rarely been brighter. The first quarter of 2017 was a record for international bond issues from Asia, beating the previous three-month record by 25%, and high-yield offerings are booming.
IFR Asia Outlook for Asian Credit Roundtable 2017: Roundtable participants
IFR ASIA: Welcome. Michael, where are we in the Asian credit cycle at the moment, and do you think that’s justified?
Of course if you understand the policy dynamic it will be easier for you to cherry pick the best sectors in the near to medium term. In my view even those LGFVs that may not have a viable business model should be OK in the near time because the government needs to open up the market for this sector.