The Middle East war has not slowed Asia's local currency bond markets, with Hong Kong and Australian dollar issuance hitting record highs so far in 2026 as investors and companies look to accelerate a shift away from U.S. dollar debt deals. Hong Kong dollar bond proceeds this year climbed nearly 17% to $14.8 billion, according to LSEG data, the strongest ever start to the year. Australian dollar bonds year to date reached A$143 billion, up almost 30%, and also a record, according to Dealogic. [...]