What is driving Asia’s local currency bond market?

While Western economies are battling sticky inflation and recessionary risks, the picture in Asia is different where the economies enjoy a much more robust economic background. The IMF predicts Emerging and Developing Asia to grow 5.3% this year, compared to 3.0% global growth, 0.9% in the Eurozone and 1.8% in the US. Against this backdrop of promising growth, Asian currencies and the local currency bond market should benefit. We spoke to Cary Yeung, Head of Greater China Debt, Pictet Asset Management, about the factors moving the market and the attractiveness of Asian local currency bonds.