Asian governments don't want to develop bond markets: CS

Pension funds and insurance firms often lament the lack of a deeper and longer-duration government bond market in Asia.  One major reason for this shallowness is that Asian governments don't want it to happen, argues Bunt Ghosh, Asia vice-chairman of fixed income and global head of emerging market risk at Credit Suisse's asset management arm. The development of domestic bond markets in Asia has lagged the rest of the world and that of equity and foreign exchange markets in the r…