ADB highlights risks posed by growth of local bond markets

Sovereign bond sales will increase significantly this year

Asia's local currency bond markets will expand this year due to the introduction of a range of economic stimulus packages and companies turning to local markets to refinance or raise fresh funds, says an Asian Development Bank (ADB) report, Asia Bond Monitor.

However, the Manila-based ADB warns that increased sovereign bond sales could increase yields, making issuance costlier. And investor concerns over sustained fiscal deficits may also push up risk premiums and hurt the sovereign credit

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