At the shorter end, the February reduction in the cash rate target and associated repricing of market expectations for future monetary policy have contributed to a decline in yields. At the longer end, there has been a tendency for yields to follow developments in global markets.
ASEAN5 are Indonesia, Malaysia, the Philippines, Thailand, and Viet Nam. Notes: 2. Figures in parentheses are the differences from the July 2016 WEO projections. Source: IMF. 2  Chart 3  Current Profits 20  s.a., tril.