Subprime bark worse than its bite

Fears that Asian financials were the predominant buyers of the riskiest subprime assets are unfounded, according to banking and credit strategists. In a flurry of research reports they have been arguing that the effect on the regionÆs institutional investors including banks and insurers will be manageable and that the sell-off is overdone.ôFundamentally Asia has quite limited exposure to US subprime,ö says Deborah Schuler, a credit analyst at MoodyÆs, which has so far taken no action …