Crisis stops growth of currency-bond markets in Asia

01/16/2009 | Financial Times (free content)

Asia's domestic currency-bond markets are taking a hit as investors shift to bonds in dollars, euros and other main currencies. "This is a classic flight to quality on an historic scale," said Tim Sangston, a consultant at Greenwich Associates. "Institutions are shifting en masse from local currency bonds to Asian credit products denominated in [Group of Three] and [Group of Seven] currencies."

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