Sumary of PH bond market up in Q2 to P9.3 trillion:
- The Philippines’ local currency (LCY) bond market grew in the second quarter of the year, driven by the expansion of government bonds, a report released by the Asian Development Bank (ADB) showed.
- } In a separate statement, the ADB said outstanding LCY bonds in emerging East Asia rose to $21.1 trillion from $17.2 trillion a year ago at the end of June, on the back of the increase in government bond issuance.
- Emerging East Asia comprises China, Hongkong, Indonesia, South Korea, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
- “The emergence of Covid-19 variants and renewed mobility restrictions in some places are stifling the earlier momentum toward a sustained recovery,” said ADB Acting Chief Economist Joseph Zveglich, Jr.
- “However, financial conditions in emerging East Asian economies remain stable, even as they cope with the continuing uncertainty.
- Long-term debt is making up more of the region’s local and foreign currency debt structure, and the region’s sustainable bond markets are expanding,” Zveglich added.