The recent banking stresses have clearly triggered a sharp increase in risk aversion. While the initial reaction of ASEAN+3 markets has been more muted compared with those in US and European markets, volatilities in the markets remain high.
During a visit in early November, AMRO staff met with market participants in Tokyo to seek their views on recent developments in Japan’s financial markets and risks to the outlook.
The US Federal Reserve’s (“Fed’s”) monetary policy tightening has roiled markets most of this year.
Over the course of the COVID-19 pandemic, ASEAN+3 governments have had to undertake sizable fiscal spending to save lives and livelihoods.
The Russia-Ukraine war has caused a surge in oil and other commodity prices to multi-year highs.
The LIBOR will be discontinued and deemed “not representative” on June 30, 2023.
Following the subsidence in market volatility, the Thai baht has resumed its appreciation since April, in conjunction with the sharp rise in gold prices.
The Bureau of the Treasury rejected all bids received for the 20-year Philippine government bond (RPGB) at the auction held on August 25, 2020.
Malaysian government bonds have strengthened significantly in recent months.
The precipitous drop in the West Texas Intermediate (WTI) crude oil price deep into negative territory on April 20, 2020 was an unprecedented event in global oil markets.