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Fund managers pared back their exposure to emerging market equities this month, with appetite for risk declining, a survey of fund managers shows

Asiamoney PLUS highlights the latest job changes across the fixed income and financial markets.

The IMF's World Economic Outlook cut global growth projections slightly, but said the manufacturing and trade cycle has begun to reaccelerate

The rating agency cut China's credit rating outlook to stable from positive, affirming the government's bond rating of Aa3

The global regulatory environment is in flux. How markets will look when the legislating is over — and how accessible and competitive they will be — is far from certain. Bankers fear unintended consequences will hamper their bosses’ ability to do business, generate profits for shareholders and continue to employ them. Perhaps the time has come to embrace change — however parochial it might be.

Italy’s monster inflation-linked bond and record low yields for Spanish bills this week prove that it would take the worst of headlines to break the eurozone periphery rally. But the bad economic data keeps coming and the buyside would be wise to pay more attention to fundamentals.

That whoosh of air that’s been whipping around European financial centres is not an wintery gust of wind, but rather the sigh of relief from the leveraged finance market at the return of the CLO market.

The technology sector has grabbed the attention of banks in Asia, which are now more eager than ever to lend to companies in this industry. But smaller TMT firms looking to tap the loan market should not get their hopes up — only the market leaders will be showered with attention.

Top 3 Asia (ex-Japan) Local Currency DCM Transactions - 2012 YTD

Companies such as San Miguel are taking advantage of lower rates and a sovereign upgrade to divvy up their funding needs into bank loans for short-term needs and US dollar debt for longer tenors.

The environment for equities in emerging markets is becoming more difficult but the developing world consumer remains a bright spot

Asian markets have been abuzz on news that the Federal Reserve may slow Operation Twist in 2013. But instead of pushing the panic button, markets should keep calm and carry on.