Global banks extend retreat from Asian bond markets
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Hong Kong
SOME global banks pulled back from Asia's local currency bond markets in 2014, hit by increasingly stringent capital requirements and declining revenues, researcher Greenwich Associates said on Monday, creating new opportunities for local operators.
"From the dealers' perspective, maintaining a franchise in domestic currency Asian bonds is a very expensive and very capital-intensive proposition," said Abhi Shroff, a Greenwich Associates consultant in Singapore.
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