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17th Asia Bond Markets Summit
Resilience in an age of uncertainty
09 November 2022 | 10:30 AM - 03:30 PM
Overview

It’s rough out there. Buffeted by surging inflation, swayed by China’s zero-Covid policy, waves of central bank rate hikes, and the ebb and flow of geopolitics, Asia’s bond markets felt the full brunt of the stormy days of 2022. Issuance of G3 bonds, outside of Japan and Australasia, plunged to its lowest level in six years during the first half of the year.

Yet, in a true test of resiliency, local currency bond markets have held up despite massive selling by foreign investors during the period. In another era, such as during the Asian financial crisis decades ago, it would have spelled trouble on a grand scale. Rather, Asia’s bond markets managed to grow by over 3% and is now worth US$23.5 trillion as at the end of March 2022.

What’s happened in 2022 is yet another testament to the painstaking efforts in laying the foundation for the region’s bond markets firmly establishing Asian bonds as an asset class. From the early days of the Asian financial crisis, through the 2013 taper tantrum, and on to the ongoing Covid-19 pandemic, Asian bonds have not only withstood market stress and volatility but have become a part of most global and regional investment portfolios.

For Asia’s fixed-income markets, environmental, social and governance (ESG) issues continue to be prominent themes, boosting demand for green, social and sustainability (GSS) bonds and the development of sustainability-linked bonds (SLBs), which are likely to follow their GSS counterparts into the mainstream. And, consequently, as investors favour issuers with stronger ESG credentials, borrowers with low scores will likely find it challenging to access the fixed-income market. As well, the Chinese issuer-dominated Asian high-yield space is expected to broaden with potential issuers from other parts of the Asia-Pacific region looking for market access.

However, Asia’s uneven economic recovery on the road to normalization will likely continue with inflationary concerns, worries over new virus variants, off-andon lockdowns, the expected Fed tapering, rising US interest rates and increasing bond defaults challenging the investing outlook. Amid this backdrop, Asia’s strong credit fundamentals will offer a firm foundation for the region’s fixed-income markets, and moving forward, bring credit differentiation to the fore.

The Asset Events, is pleased to be hosting the 17th Asia Bond Markets Summit, the annual gathering of thought leaders, policymakers, issuers and investors alongside the 5th ESG Summit - Asia-Pacific’s leading ESG forum. This year’s joint sessions will also include a bonus track on digital assets. This must-attend multi-event summit will bring industry experts to discuss the rapidly-evolving investment markets in the region and the outlook for 2023.

Agenda
09 November 2022
12:10 PM
Panel three: What to expect in the coming 12 months

Rising inflation, tightening monetary policies and the threat of recession have dampened global economic sentiment. Amid these uncertainties, investors are continuously on the lookout for safe assets to achieve stable returns. Asia’s bond markets, anchored by strong fundamentals, offer a bright spot. Issuers are flocking to the market once again and investors are once again finding favour in the region’s local currency bonds. Asia’s investment grade bonds, meanwhile, are outperforming their US counterparts as volatility continues.

  • How has the Fed’s tapering and US interest rate hikes affected Asian bonds?
  • Where are the opportunities today in Asia’s fixed income market?
  • What challenges do domestic borrowers face today?
  • What do global investors look for when investing in local currency bonds?
Charles Yang
Charles Yang
vice president
CCXAP
Arsa Indaravijaya
Arsa Indaravijaya
deputy secretary-general and chief investment officer
Government Pension Fund Thailand
Nishad Majmudar
Nishad Majmudar
AVP-analyst, sovereign risk group and credit strategy and research
Moody’s Investors Service
Omar Slim
Omar Slim
managing director and portfolio manager, fixed income
PineBridge Investments
Thu Ha Chow
Thu Ha Chow
head of Asian fixed income
Robeco
Daniel Yu (moderator)
Daniel Yu (moderator)
editor-in-chief
The Asset
01:00 PM
Luncheon
02:30 PM
In conversation: What’s next for ASEAN bond markets
Delvin Chong
Delvin Chong
senior vice president, treasury and markets
Cagamas
Edmund Leong
Edmund Leong
managing director and head of group investment banking
UOB
Darryl Yu (moderator)
Darryl Yu (moderator)
managing editor
The Asset
03:00 PM
Panel four: Search for yield - public or private markets?

Following years of rapid growth, Asia’s high-yield bond market has shrunk dramatically. China’s property sector, which dominates issuance in this space, is still embroiled in a crisis, and regulators have stepped in to address the crisis. Meanwhile, the demand for private credit has exploded as investors explore opportunities on the private side.

  • What will China’s recent policy initiatives mean for Asia’s high-yield bond market?
  • Which markets and sectors are providing risk-adjusted value for investors?
  • Why are investors turning to the private credit market for opportunities?
Sumit Bhandari
Sumit Bhandari
lead portfolio manager, Asia private credit, alternative investments
Allianz Global Investors
Diana Reeves
Diana Reeves
co-founder and director
Cabot Capital Partners
Andrew Tan
Andrew Tan
managing director & head of Asia pacific private debt
Muzinich
Nitish Agarwal
Nitish Agarwal
CEO and CIO
Orion Capital Asia
Chito Santiago (moderator)
Chito Santiago (moderator)
executive editor
The Asset
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Event Photos
Panel three: What to expect in the coming 12 months
Panel three: What to expect in the coming 12 months
Luncheon
Luncheon
Full house at the summit
Full house at the summit
In conversation: What’s next for ASEAN bond markets
In conversation: What’s next for ASEAN bond markets
Panel four: Search for yield - public or private markets?
Panel four: Search for yield - public or private markets?