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Asia Bond Monitor Series

The Asia Bond Monitor examines the outlook, risks, and policy options for East Asian local currency bond markets, which enable governments to raise capital to invest in infrastructure. The publication monitors bond markets in the 10 Association of Southeast Asian Nations member countries plus the People's Republic of China; Hong Kong, China; and the Republic of Korea.


  • Asia Bond Monitor – November 2023Reports |

    Asia Bond Monitor – November 2023

    This edition analyzes how financial conditions weakened and bond yields rose in most emerging East Asian markets between 1 September and 10 November amid expectations that the United States Federal Reserve would keep interest rates elevated for an extended period.
  • Asia Bond Monitor – September 2023Reports |

    Asia Bond Monitor – September 2023

    This edition shows how a modest improvement in economic fundamentals has buoyed East Asia’s local currency bond (LCY) markets, but potential renewed increases in inflation and further interest rate hikes could pose risks for the region’s borrowers.
  • Asia Bond Monitor – June 2023Reports |

    Asia Bond Monitor – June 2023

    This edition presents recent developments in emerging East Asian local currency bond markets and features a special section about how increased climate risk awareness can influence investors’ trading decisions.
  • Asia Bond Monitor – March 2023Reports |

    Asia Bond Monitor – March 2023

    This edition notes slowing growth in the last quarter of 2022 in emerging East Asia’s local currency (LCY) bond market, though aggregate issuance of LCY bonds by these economies reached a record high in 2022.
  • Asia Bond Monitor – November 2022Reports |

    Asia Bond Monitor – November 2022

    This publication reviews recent developments in East Asian local currency (LCY) bond markets against a backdrop of deteriorating global financial conditions and provides an assessment of the outlook, risks, and policy options.

  • Asia Bond Monitor – September 2022Reports |

    Asia Bond Monitor – September 2022

    This edition reviews developments in East Asian financial conditions and local currency bond markets. Long-term bond yields declined reflecting a dimming growth outlook while bond issuance achieved a record-high in the second quarter of 2022.
  • Asia Bond Monitor – June 2022Reports |

    Asia Bond Monitor – June 2022

    This edition includes discussion of pandemic-related asset purchase programs, along with US monetary policy and financial market reactions in developing Asia.

  • Asia Bond Monitor – March 2022Reports |

    Asia Bond Monitor – March 2022

    This edition considers recent trends in financial conditions and developments in local currency bond markets in emerging East Asia. It includes the results of the 2021 bond market liquidity survey.

  • Asia Bond Monitor – November 2021Reports |

    Asia Bond Monitor – November 2021

    This edition sets out recent developments in East Asian local currency bond markets and discusses the region's economic outlook, the risk of another taper tantrum, and price differences between labeled and unlabeled green bonds.

  • Asia Bond Monitor – September 2021Reports |

    Asia Bond Monitor – September 2021

    In the second quarter of 2021, rising COVID-19 cases have cast a shadow over emerging East Asia's growth outlook. Yet the region's financial conditions remain broadly stable amid accommodative monetary policy stances despite some weakening signs.
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