This section allows cross-market comparisons.
Bond Market Data
Size of LCY Bond Market
Data vary across markets. For details download spreadsheet.
Size of Local Currency Bond Market (Local Sources)

This indicator shows the absolute amount of local currency (LCY) bonds outstanding, categorized as government and corporates. Government bonds include obligations of the central government, local governments, and the central bank. Corporates comprise both public and private companies, including financial institutions. Financial institutions comprise both private and public sector banks, and other financial institutions.

Bonds are defined as long-term bonds and notes, Treasury bills, commercial paper, and other short-term notes.
Note on the Data:

1. The total amount of LCY bonds outstanding in each market is taken from the following sources:

CN: ChinaBond and Wind

HK: Hong Kong Monetary Authority

ID: Bank Indonesia, Indonesia Stock Exchange, and Directorate General of Budget Financing and Risk Management–Ministry of Finance

JP: Japan Securities Dealers Association

KR: The Bank of Korea and EDAILY Bondweb

MY: Bank Negara Malaysia

PH: Bureau of the Treasury and Bloomberg, LP

SG: Monetary Authority of Singapore and Bloomberg, LP

TH: Bank of Thailand

VN: Bloomberg, LP

2. LCY bonds outstanding for Hong Kong, China and Singapore include LCY bonds issued by nonresidents.

3. Some state-owned agencies form part of the government bond market in the People’s Republic of China and the Republic of Korea.

4. For Japan, the Philippines, and Thailand, the bonds of state-owned entities are categorized as government bonds.

5. For Singapore, the Monetary Authority of Singapore (MAS) publishes LCY corporate bonds outstanding data on an annual basis. Starting from 2007, quarterly LCY corporate bonds outstanding are AsianBondsOnline estimates. Fourth quarter corporate data are revised based upon the availability of MAS data.

6. End-of-period exchange rates are from Bloomberg, LP.