Asia Pacific Bonds

Latest edition · August 5, 2026

Asia Pacific bonds en 1664335

July saw a contraction in Asia USD bond issuance amid geopolitical tensions and rising US yields. UBS maintains a constructive outlook on Asian Investment Grade credit for its attractive carry.

The Asia USD bond market slowed significantly in July 2026, with issuance dropping to USD 14.8bn, a 36% month-over-month decline. Activity was dominated by South Korean issuers (38%) and defensive sectors like financials. While new issue performance was mixed due to longer durations, UBS remains constructive on Asia Investment Grade bonds, citing a 5.6% yield, and suggests Asia High Yield for incremental yield enhancement.

Key takeaways from the latest edition

• 1.Asia USD primary market issuance slowed in July due to seasonality, geopolitical tensions, and rising US Treasury yields.
• 2.South Korean issuers led issuance volume (38%), followed by India (16%) and supranationals (12%).
• 3.UBS remains constructive on Asia Investment Grade (IG) bonds given the attractive carry of 5.6%.

What this series covers

• New issue focus
• UBS CIO risk views
• UBS CIO valuation views
• Required Disclosures
• Statement of Risk
• Emerging Market Investments
• Risk information

Edition archive

• Asia Pacific bonds en 1664335

  August 5, 2026

• Asia Pacific bonds en 1662783

  July 8, 2026

• Asia Pacific bonds en 1661451

  July 2, 2026

• Asia Pacific bonds en 1662070

  June 30, 2026

• Asia Pacific bonds en 1660984

  June 8, 2026

• Asia Pacific bonds en 1660398

  June 4, 2026