Asia’s bond markets are at the centre of a concerted marketing effort. From Pandas and Dim Sum bonds to Masalas and Formosas, many of Asia’s local debt products are already firmly established in the world’s financial lexicon. Turning concept into reality, however, remains a challenge. Developing deeper local capital markets has been one of the region’s top ambitions since the 1997-98 Asian financial crisis exposed the dangers of relying on foreign currency funding, and by some measures little progress has been made. Few corporate borrowers have...Read more