Funds, private banks dump bonds over Fed signals
In one of the worst sell-offs since the European sovereign crisis in 2011, PMs and private banks took cue from the Fed's QE exit hints to cut their bond portfolios significantly.
.jpg&c=1&h=677&q=100&v=20242731&w=1204)
Portfolio managers and private banking clients were behind this week’s haphazard sell-off of Asia sovereigns and corporate bonds, caught out by the US Federal Reserve’s signals to taper off quantitative easing.
Bond traders and strategists say both high-yield and high-grade bonds – ranging from emerging market issues from countries such as Indonesia and the Philippines to those from leading Asian banks and conglomerates – had suffered.
Amid perhaps the biggest sell-off since Oct…
Please sign in or register
for free access to 1 article per month from AsianInvestor’s content and archives of over 16,000 articles.
¬ Haymarket Media Limited. All rights reserved.