Asia Bond Monitor - March 2023

This edition notes slowing growth in the last quarter of 2022 in emerging East Asia's local currency (LCY) bond market, though aggregate issuance of LCY bonds by these economies reached a record high in 2022.

The publication explains how improved financial conditions in emerging East Asia have been clouded by uncertainty over the path of monetary tightening in the United States and other risks. It includes findings from the latest LCY bond market survey, noting that liquidity weakened overall in 2022. Growth in the sustainable bond market moderated.