"I think the Bank of Japan's policy has a bunch of implications. One of the implications is, it will appear to be positive for nominal risk. I think another implication is that they are going to be looking to buy other emerging market bonds."

"Traditional fixed-income investors are faced with a choice between taking on additional duration or credit risk in order to enhance portfolio yield or current income."

"In short, we see very limited scope for lower interest rates, and we also see the possibility of an inelegant exit from the massive balance sheet expansion that the Fed has been undertaking for several years."

"My main takeaways were that there is some very positive reform momentum and that the India investment story is probably going to benefit equity investors more than bond investors."

"While inflows have been positive, cash for reinvestment, a huge contributor to demand in 2012, has ebbed significantly this March, and is expected to do so again in April."

"For the near-term, we are not bullish on Venezuela's debt. The market may have overreacted positively to Chavez’s death and transition risks remain. It's more short-term issues that are keeping us away."

"2012 brought greater focus and transparency on retirement plan costs....This has led to an opportunity for retirement advisors."

"Indonesia’s economy has grown at an annual rate exceeding 5% in seven of the past eight years, mainly due to increasing consumption by the rising middle class."

"Vietnam continues to be the main beneficiary of the migration of low-end manufacturing out of China as the producers try to take advantage of wages that are about half of that in China."

"The top four emerging markets I like right now are the local markets of Nigeria, Mexico, Russia and Indonesia."

"We really like local currency in EM debt right now...It's where the rubber meets the road."

"I think using the word "bubble" right now... is not thinking about the situation in the right way."

"...emerging markets fits pretty interestingly right now in terms of its fundamentals."

"The most basic difference is that in local currency the risk of actual default is not the primary concern."

"The push away from developed economy currencies is a big macro theme for 2013."

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