WORLD

ADB: COVID-19-induced uncertainty continues to drag on emerging East Asian bonds

25.06.20 15:55


The coronavirus disease (COVID-19) pandemic continues to drag on local currency bond markets in emerging East Asia as investment sentiment globally and in the region wane and containment measures limit economic activity, says the latest issue of the Asian Development Bank’s (ADB) Asia Bond Monitor.

 

“Governments and central banks in the region have taken significant measures to mitigate the impact of COVID-19 through fiscal stimulus packages and eased monetary policies. But more needs to be done to strengthen the region’s economies and financial markets,” said ADB Chief Economist Yasuyuki Sawada. “While overall investment sentiment is still down, there are signs of recovery in some economies as quarantine measures are strategically relaxed.”

 

Emerging East Asia is comprised of the People’s Republic of China (PRC); Hong Kong, China; Indonesia; the Republic of Korea; Malaysia; the Philippines; Singapore; Thailand; and Viet Nam.

 

Government bond yields trended downwards in most regional markets between 28 February and 29 May this year, while equity markets in emerging East Asia suffered losses and local currencies depreciated against the United States (US) dollar.

 

 

 

source: IPN

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