The bond market in the Philippines was the second-fastest growing among emerging economies in East Asia as of the third quarter, as the country’s buoyant economy boosted appetite for peso-denominated instruments, according to a report of the Asian Development Bank (ADB). The report also says that outstanding bonds in the local bond market registered one of the fastest growth rates in the region as of end-September, owing to the economic problems in Europe and the United States which prompted investors to seek for better yields in Asia. Further, report says that the outstanding amount of local currency-denominated bonds from the Philippines reached a dollar equivalent of $91 billion as of the end of September, up by 21.8 percent from that in the same period last year, writes Michelle Remo for Philippine Daily Inquirer