Bond managers unfazed by Greek default

Greece’s default on a payment to the International Monetary Fund this week has been met by a shrug among US-based bond fund managers. “It was kind of a yawn,” Andrew Hofer, managing director at Brown Brothers Harriman in New York told AsianInvestor. A few years ago this would not have been the case, given extensive commercial lending exposures to the Greek government. Jitters over Greece’s potential exit from the euro in 2012 saw bonds in other peripheral nations plummet, with f…