The prospect of the Federal Reserve’s much-anticipated taper is hurting Asian bond markets, a report from Asian Development Bank has found.
According to the report, local bond markets in Asia are still expanding, but at a more modest pace, as a direct result of investors being more cautious amid greater volatility and weaker growth in the region.
Emerging markets have taken a battering in recent months as fears of a reduction in the Fed’s $85-billion-a-month bond buying program prompted sharp capital flows from the region.
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