Pimco Sees Yuan Risk Deterring Funds as China Opens Bond Market

``That's the crux of the investment decision now facing the global funds given more access to China's bond market. While it offers the highest yields among the world's major economies, Pacific Investment Management Co. and Schroder Investment Management Ltd. say exchange-rate risk is damping global demand for Chinese assets. Barclays Plc said this week there's a growing chance China will announce a sharp, one-time devaluation to change sentiment toward the currency and suggested such a move would need to be in the region of 25 percent to be effective.''