It has been an explosive year for Asia’s high yield bond markets with the region’s record-breaking $93 billion issuance surpassing Europe’s $87 billion equivalent for the first time ever.
The achievement is all the more impressive given that Asian volumes have risen nearly 150% this year largely thanks to the huge financing appetite of China’s high yield real estate borrowers. Investors have also had a good 2019, recording low double-digit returns in Asian high yield, their best year since 2012.
In the end, the Year of the Pig has turned out to be true to its name. It has been a year marked by luck and good...
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