Pimco, JPMorgan See Stable Asian Bond Appealing Post Brexit
- Reduced supply gives support as dollar bond offerings drop 18%
- ‘Very limited impact on Asian bonds’ from Brexit: JPMorgan
This article is for subscribers only.
The relative stability of Asian dollar bonds after Britain’s vote to leave the European Union shows how rising local demand is shielding the region’s debt from global market volatility, Pacific Investment Management Co. and JPMorgan Chase & Co. say.
“I see very limited impact on Asian bonds from Brexit,” said Ben Sy, the head of fixed income, currencies and commodities at the private banking arm of JPMorgan in Hong Kong. “Asian bonds continue to be underpinned by strong technical and local bids, and flight to quality.”