Southeast Asia’s two biggest economies are selling more short-term debt to cope with the stress from the US-Iran war, draining liquidity from broader markets.
Emerging-market bond investors expecting a broad rally from any US-Iran peace deal may be in for a disappointment, as money managers see sticky inflation and fiscal concerns keeping long-term yields elevated.
Light trails left by passing traffic at night in Daegu, South Korea, on Tuesday, April 23, 2024. Gross domestic product advanced 1.3% in the three months through March versus the previous quarter, the Bank of Korea said Thursday, an advance that soundly outpaced economists’ consensus for a 0.6% expansion.
Thailand’s yield curve has shifted to the steepest in emerging Asia, with some investors saying that makes its longer-dated bonds look attractive given a divergence in interest-rate expectations there versus regional peers.
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