Developed debt crises to fuel RMB currency, bond markets

Evolving debt crises in the US and Europe are expected to underpin a dramatic escalation in renminbi bonds and custody as the world's institutions target currency and credit diversification. Speaking from a global portfolio management perspective, Jeffrey Yap, head of Asia fixed income trading at Mizuho Securities, pointed out that as the second largest global economy, China is the only market of sufficient size to accommodate such needs. "A lot of investors are shying away from inv…