Asia's high-yield bond market in focus

The Asian high-yield bond market has received increased attention in recent years as investors have sought higher yields and excess returns on their capital. Following the emergence from the Asian crisis and the 2001-2002 recession, the expected outperformance of the region's economies promised much for the development of the high-yield asset class. However, despite some growth, the market remains very small compared to the US, and to a lesser extent, the European high-yield markets.