Foreign Bonds Face Tough Reception in Once-Welcoming Taiwan
- Formosa bond sales in first quarter drop to lowest since 2014
- Decline comes as interest rates surge, local insurers retreat
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Taiwan’s foreign-currency bond market risks losing its relevance just three years after AT&T Inc.’s marquee issuance led a record $60.2 billion of sales.
Issuance of Formosa bonds, foreign-currency notes sold on the island, dropped to $2.3 billion in the first quarter, Bloomberg-compiled data show. At that rate, it’ll be far below last year’s $17.4 billion of sales, which was already the least in nine years.