Asian credit has been enjoying its time in the sun in recent years. Companies across the region have been able to fund their growth plans at low rates, and investors have done well.
The threat of US rate hikes hangs over the credit markets in 2015, but strong growth prospects and bank capital constraints mean Asia’s bond markets are in for another busy year.
Asia’s G3 bond markets face some serious challenges in 2015, but bankers remain optimistic that the region’s primary debt markets can continue to grow
Asia’s lenders are largely well capitalised, but, to keep pace with economic growth, they need to keep raising Tier 1 and Tier 2 capital, at least half which is likely to come from local markets.
The biggest long-term capital funding consideration for Asian banks could be whether or not the concept of total loss-absorption capacity (TLAC) gains traction.
China’s domestic capital market holds the key to the overhaul of the country’s sprawling web of local government finances, and efforts to introduce municipal bonds are beginning to bear fruit.
Early signs since Narendra Modi’s election victory hint at India’s enormous potential in the global capital markets, but can issuers take advantage of international investors’ new-found confidence?
The Singapore dollar bond market has made a cautious start to 2015 after last year’s oil price slump left many investors nursing heavy paper losses on energy-related names.
Asian demand for Australian dollar assets has lifted the issuance of Kangaroo bonds to a post-crisis peak and helped deepen Australia’s debt markets.