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There's been no shortage of Canadian debt hitting the market recently. How about something from Asia for a change? Pimco plans to set up its first dedicated Asian bond fund.

"We're starting to see clear demand for Asian fixed-income," and may open a fund to meet that demand in the next couple of months, COO Douglas Hodge told Bloomberg news. On the radar: Debt from larger, stable, fast-growing economies like Brazil, Malaysia and Korea.

Pimco's looking further east after Bill Gross, who runs the world's biggest bond fund there, bought Treasuries last month and cut mortgage bond holdings to the lowest level since 2005.

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