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Asian, Middle Eastern Holders Cut EFSF Bond Purchases, FT Says

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Jan. 28 (Bloomberg) -- Asian and Middle Eastern money managers have reduced purchases of new European Financial Stability Fund bonds at a faster pace than other investors, the Financial Times reported, citing data from CreditSights Inc.

The proportion of the bonds bought by investors including central banks and sovereign wealth funds has fallen to 17 percent this month from 54 percent in June, the FT said. Asian and Middle Eastern investors purchased 12 percent of the bonds compared with 50 percent in June, according to the report.

International banks cut their loans to fellow lenders and governments in Italy, France and Spain in the third quarter, according to data from the Bank for International Settlements.

To contact the reporter on this story: Clementine Fletcher in London cfletcher5@bloomberg.net.

To contact the editor responsible for this story: Sara Marley at smarley1@bloomberg.net

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