High-yield bond sales from emerging Asia are expected to rise in 2004 to their highest since the Asian financial crisis of 1997/98, bankers say. US interest rates at 46-year lows and global economic optimism have encouraged investors to buy high-yield emerging market bonds and prompted many lesser known companies to tap the market for the first time.
Bankers and analysts expect the pace of regional high-yield bond issues to pick up in the second half of 2004 when elections in several Asian countries, including India, Indonesia and the Philippines, will have been completed, eliminating an element of market uncertainty.
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