It's Asian bonds, not equities, that are too rich

http://ift.tt/eA8V8J An unusual parallel rally in Asian bonds and equities, powered for the last five years by cheap global funds, could give out soon with debt becoming a casualty of the increasing confidence in the outlook for global growth. The rise in equities has been less pronounced, leaving room for further gains as a pick up in global demand boosts corporate earnings. The tricky part for investors, however, is to precisely time their exit from bonds. Strictly speaking, bonds can continue to feed off the supply of cheap money from central banks in developed markets.



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