LOTS of talk on dragon bonds at yesterday's conference at the Grand Hyatt. Does anyone know what a dragon bond is? Bond traders love funny names for their products, and are always talking about Yankee bonds or Samurai bonds. Sadly, whoever coined the dragon bond phrase forgot to trademark it or provide a definition, and there is quite a bit of dispute. James Carbone of Lehman Brothers reckoned you could only call something a dragon bond if it was sold to Asian investors outside Japan, underwritten by ''Asian firms'', launched and priced in Asian time zones and listed on at least two Asian exchanges. Bonds which are most of the way there he reckoned should be called clipper bonds, after the fast ships which used to sail between Europe and Asia. And what about a bond that looks like a dragon bond but loses Asian content as trading moves to London: a lizard bond? When the Indonesian bond market arrives it will consist of komodo bonds, surely. But Malaysia, targeted for the development of a bond market by the Asian Development Bank, is best. Naming it after their national animal mascot would give orang-utan bonds. Big dealers CHRIS Patten had some words of advice for the bond dealers at the conference. ''I hope you all have the opportunity during your stay here of further boosting our GNP with a little retail therapy.'' Pro bonus NOT much job movement among the stockbroking set, and no wonder. It's getting towards BONUS TIME. While other folks have to get by with one-or two-month bonuses, for stockbrokers the sky's the limit. Last year ordinary button-pushers in the research department would typically get six-month bonuses, front-line sales staff maybe nine or 12, and one gold-plated superstar was reckoned to get 36. With turnover on the local market past $1 trillion so far this year, 60 per cent up on last year, it's easy to see that this year some people may be getting a bonus bigger than their telephone numbers, although not as big as their egos. One member of a big brokerage's sales staff said yesterday that a headhunter trying to get them to move, and therefore lose the bonus from their current employer, had offered them an up-front payment of 12 months' salary. The trouble is that now everyone is expecting 18-month bonuses. When the 15-month bonus comes they'll feel swindled. Carrousal ON the theme of stockbrokers changing jobs, W.I. Carr (Far East) had their Christmas bash on Friday night. The big banner put up by the hotel, however, described them as ''W.I. Carr (Fast East)''. Maybe the hotel staff used an F when they should have useda P. Travel beyond BOY, travelling around the Philippines can be dangerous. Brian Cunningham of Ap Lei Chau has just got back from Manila, in one piece luckily, after finding that the Manila Bulletin has a section entitled ''Classified Ads. Travel and Tourism Obituary''. Nothing gained MORE evidence that it is possible for unspectacular companies to get VIP non-executive directors comes from KTP, the soon-to-be-floated maker of sports shoes, which has hooked Bank of East Asia's David Li Kwok-po and Wong Po-yan, former Legco member and a member of the Hong Kong SAR preparatory committee. The prospectus also divulges that the directors are getting a performance bonus: up to five per cent of profits before extra-ordinaries once it exceeds the current forecast of $176 million. Another company getting a VIP director is Mandarin Resources, which has hooked Choi Chen Po-sum as an independent non-executive director. She's busy already: she's first vice-chairman of the stock exchange, a non-executive director of construction company Chun Wo Holdings, a dealing director of securities firm Coin Fall and chairman of Chintex Oil and Gas. Mind you, being chairman of Chintex alone should be pretty taxing if she wants to get it back on its feet. The company has been suspended since September 1989 and has had zero, yes zero, turnover for the past two years. Brum deal HENK Meyknecht, who lives in Seoul, was wondering about getting some unit trusts and wrote to Jardine Fleming in Hong Kong asking for more facts. JF wrote back saying they couldn't send him any because ''Jardine Fleming Unit Trusts are not registered with the UK Security Investment Board. ''We very much regret that we are unable to furnish you with further information or offer you assistance.'' Those UK regulators really must really be cracking the whip if they are restricting what unit trusts are available in South Korea. But then Henk saw the address: ''Last time I checked, Seoul was still located in the southern part of the Korean peninsula,'' he says. Maybe JF got it confused with the English town near Birmingham named Solihull. Good mixer SCENE at a hotel restaurant, Tianjin. A very generous mainlander turns up with 10 or so friends to enjoy the Western-style buffet. Man: What is your best wine? Waiter: Dom Perignon, sir. Man: Is it expensive? Waiter: Yes, sir. Man: Fine. Bring me two bottles. Our observer has never seen Dom Perignon mixed with Coke before, but apparently it's very good. Looks like the mainland austerity drive really has been cancelled.