Asia needs bond tax rethink

The Thai finance ministry has slapped a tax on foreign bond investors in a bid to defend its currency.

The Australian regulator has cited four proceedings at the bank spanning misconduct across ANZ's institutional and retail divisions, including over the management of a A$14bn government bond issue; ANZ, which is cutting 3,500 jobs, has admitted to "unconscionable conduct" and apologised.

Analysts fear that defaults in the shadow banking space could push into public bond markets. Will Beijing be able to implement reform?

A missed payment on a Rmb500 million local government debt spooks investors. Now they're waiting anxiously to see what happens next.

At least a dozen local government financing vehicles, or LGFVs, have hit the brakes on their offshore debt sales as investors fret about the rising default risks.

Rising onshore borrowing costs leads to a rising risk of bond defaults by local-government financing vehicles