HALISTER1: Western Asset Likes Local Bonds of India, Indonesia, Russia

Western Asset Likes Local Bonds of India, Indonesia, Russia

(Bloomberg) -- Rise in U.S. yields has opened up investment opportunities, Desmond Soon, Western Asset’s head of investment management for Asia ex-Japan, says at event of Investment Management Association of Singapore.
  • Co. likes local-currency bonds of India, Indonesia, Philippines, Russia, Colombia and Brazil
  • Favors Asia dollar debt as 75% of issues are held by Asian investors; sees large maturity in next 2 yrs that will increase demand for those issues
  • Asian credit offers 70 bps premium to their equivalent U.S. investment-grade bonds
  • READ: INVESTOR Q&A: JPMorgan Asset Prefers Local Currency EM Bonds
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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Desmond Soon (Western Asset Management Co)

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