Western’s Leech stays short the euro, long Asia

Kenneth Leech, ‘chief investment officer emeritus’ at $456 billion Western Asset, says recent bets on the euro’s weakening have yet to come to fruition, but still believes European Union efforts to save the currency will also lead to its depreciation. Meanwhile, the firm remains bullish on Asian debt markets, but he is growing more wary of the burden to tighten monetary policy that is being placed on the region’s central bankers due to their importing of US interest rates. Leech, who …