Junk bonds: time to load up or cut and run?

Should institutions continue to pour money into high-yield bonds in search of higher returns than they can obtain from sovereign debt? The question split speakers at AsianInvestor's Southeast Asia institutional investment forum held this week in Singapore. Canadian insurer Sun Life Financial, for one, is keen on the asset class. Its seven Asian businesses' portfolios are dominated by sovereign debt – in Indonesia it accounts for 95%, for example, and the Philippines 80% – but Asia…