High-yield and offshore currencies seen as key themes in 2011

Jon Pratt, head of Asia debt capital markets non-JapanAustralia at Barclays Capital, gives FinanceAsia his thoughts on what lies in store for the Asian bond markets this year.

What will be the key themes for the Asian G3 bond markets in 2011
This year will mark a watershed year for high-yield issuance. Increasing risk appetite on the part of investors and a need for diversification will create ideal conditions for Asian companies to search for growth capital from the international markets at a time when domestic interest rates are rising and local bond markets are increasingly expensive. 

We expect to see more hybrid issues by financials following the release of the...