SINGAPORE/HONG KONG (Reuters) – Yield-chasing investors, whose hunger for income powered a long rally in Asian junk-rated bonds, are finally feeling the first symptoms of indigestion after a year-long binge. The signs of excesses in the rally that left some junk bond holders with returns of 45 percent in 2012 are several. In the first week of the new year, investors put in an overwhelming $ 45 billion of bids for $ 1.75 billion of bonds offered by three junk-rated property firms from China. …
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