Given the extent of mispricing in the bond markets before the Asian financial crisis, it would be foolish to read too much into the recent improvement in market conditions. Countries such as South Korea and China were able to come to the markets at spreads of less than 100 basis points (a basis point is a hundredth of a percentage point) over US Treasury bonds before the crisis in 1997. ...more
Given the extent of mispricing in the bond markets before the Asian financial crisis, it would be foolish to read too much into the recent improvement in market conditions. Countries such as South Korea and China were able to come to the markets at spreads of less than 100 basis points (a basis point is a hundredth of a percentage point) over US Treasury bonds before the crisis in 1997. ...
