East Asian bond markets show limited integration with global counterparts.
The article looks at how connected bond markets in East Asia are with each other and with markets outside the region. They used a special model to analyze bond yields from eight East Asian countries over 2001-2012. The results show that most East Asian markets are not very integrated with each other or with global markets. However, Hong Kong and Singapore are closely linked to global markets, especially the US. The Japanese market doesn't have much impact on East Asian markets.