Eurozone woes turn Asian debt into mainstream asset class

Views among Asian asset managers on what constitutes a safe haven these days span the international spectrum, from US Treasuries to Asian credits – that is if such a thing exists at all. Pimco, for instance, regards US Treasuries as “the cleanest of the dirty shirts”, according to its Asia CEO and director Brian Baker. He notes that while large developed market sovereigns are suffering from rising deficits and slowing growth, emerging markets have proved a volatile asset class a…