Oey added that local currency EM bonds, which can yield around 7 percent, have «good long term fundamentals» including
strengthening local bond markets, low debt, and faster GDP growth.
[3] And eight well - functioning, modest - sized,
local bond markets amount to the same thing as a «regional market» for most practical purposes.
[2] Indeed, to my mind, the value of these initiatives has been less the «integration» aspect than the progress made in enabling eight
local bond markets to function more effectively for foreign and domestic investors and, not least, for the governments and other borrowers of those countries.
Daiwa Capital Markets raised $ 145 million in one of the only two bond deals reported in Mongolia last year, and it led
the local bond market.
Nigeria issues sovereign bonds monthly to support
the local bond market, create a benchmark for corporate issuance and fund its budget deficit.