Shine on Asian economies

asia

Things are hotting up in Asia with Indonesia, China, Pakistan, the Philippines and South Korea managing to get a piece of their own economic action, which is good news for emerging market debt

A Who's Who of investment banks is schmoozing Indonesia to get in on one of Asia's biggest deals. It's not an initial public offering, (IPO) but a global bond sale, the nation's first in seven years. Southeast Asia's largest economy is betting faster growth, a reduced budget deficit and lower inflation will lure investors to its $1bn debt sale. Judging by the level of interest from bankers at Citigroup, Deutsche Bank, UBS and others, demand will be brisk. The sale has significance far beyond Indonesia; it is one of the most striking signs Asia's bond markets are coming into their own. Tha...