FWD favours Asia IG bonds amid coronavirus fallout

As Covid-19 continues to rage across the world, Hong Kong-based insurer FWD has turned its sights on investment grade bonds instead of high yield corporate ones, and Asia – where it sees a lower risk of downgrades than in the US. “There are plenty of quality Asian names that are often state-owned enterprises, so we don’t expect them to be downgraded to junk,” said Paul Carrett, chief investment officer of the life insurer. “Asian corporate bonds remain appealing subject to the nam…