Local Asian bond markets – The credit picking gets harder

Last year bond investors only had to pick the right country to make profits in Asia. This year the focus is on individual credits, and there are plenty to choose from. Investors need to do their homework. Governments and corporates are issuing fast and furiously. Corporates want an alternative to bank lending, over-reliance on which, they say, caused some of their past troubles. Governments are issuing even when they don't need the money, to create a domestic market and build up a curve. Pauline Loong reports on Hong Kong, Singapore, the Philippines and Indonesia, Dominic Jones on Korea and Taiwan, Gill Baker on Thailand and Malaysia.