Asian private clients loath to ditch EM bonds

Asset and wealth managers are generally recommending allocating to equities over bonds this year, and many warn of the risks of emerging-market debt. Yet private bank clients in the region seem reluctant to sell fixed income assets, despite the global government bond rout sparked by Donald Trump's election as US president on November 8. “We advise Asian clients to reduce exposure to fixed income, and we have to admit that we have very little success,” said Stephen Corry, head of i…