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亚洲开发银行:2020年亚洲证券监测报告(英文版)(90页).pdf

上传人: Me****y 编号:20486 2020-10-06 101页 4.33MB

1、Asia Bond Monitor September 2020 This publication reviews recent developments in East Asian local currency bond markets along with the outlook, risks, and policy options. It covers the 10 members of the Association of Southeast Asian Nations and the Peoples Republic of China; Hong Kong, China; and t

2、he Republic of Korea. About the Asian Development Bank ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 68 members 49 from the region. Its main instru

3、ments for helping its developing member countries are policy dialogue, loans, equity investments, guarantees, grants, and technical assistance. ASIAN DEVELOPMENT BANK 6 ADB Avenue, Mandaluyong City 1550 Metro Manila, Philippines www.adb.org ASIA BOND MONITOR SEPTEMBER 2020 ASIAN DEVELOPMENT BANK The

4、 Asia Bond Monitor (ABM) is part of the Asian Bond Markets Initiative, an ASEAN+3 initiative supported by the Asian Development Bank (ADB). This report is part of the implementation of a technical assistance project funded by the Investment Climate Facilitation Fund of the Government of Japan under

5、the Regional Cooperation and Integration Financing Partnership Facility. This edition of the ABM was prepared by a team from the Economic Research and Regional Cooperation Department headed by Yasuyuki Sawada and supervised by Director of Macroeconomics Research Division Abdul Abiad. The production

6、of the ABM was led by Donghyun Park and Shu Tian and supported by the AsianBondsOnline team. The AsianBondsOnline team members include Jun Ray Bautista, Angelica Andrea Cruz, Debbie Gundaya, Russ Jason Lo, Patrick Vincent Lubenia, Resi Olivares, and Roselyn Regalado. Cynthia Castillejos-Petalcorin a

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根据报告的内容,本文主要概括了以下几点: 1. 2020年6月15日至9月11日,由于亚洲各央行货币宽松和经济增长放缓,大多数新兴东亚市场的2年和10年期本币国债收益率下降。 2. 随着货币政策的放松和相对较好的COVID-19疫情控制,全球投资情绪逐渐恢复,新兴东亚的金融状况有所改善。 3. 尽管全球经济前景因COVID-19而暗淡,但亚洲新兴市场的资产收益率较高,有助于新兴东亚的金融状况恢复。 4. 2020年第二季度,新兴东亚的本币债券市场规模达到17.2万亿美元,同比增长15.5%,环比增长5.0%。政府债券占60.8%,企业债券占39.2%。 5. 尽管市场情绪有所改善,但风险偏好尚未完全恢复到疫情前的水平。区域股指在9月11日比1月2日平均低11.0%,信用利差平均上升16个基点。 6. 风险仍偏向下行。COVID-19疫情可能比最初预期的更深更持久,是最大的风险因素。其他风险包括因疫情影响而加剧的社会动荡,以及中国和美国之间的持续贸易紧张。
2020年第二季度,东亚新兴市场本地货币债券市场增长情况如何? 东亚新兴市场本地货币债券收益率在2020年6月15日至9月11日期间有何变化? 东亚新兴市场本地货币债券市场面临哪些风险?
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