2 years ago
Anticipation Mode
The time that has been awaited finally come, the Fed raised the benchmark rate by 25bps for the first time since 2018. The US central bank also gave the guidance of 6 times hikes ahead in 2022 and 3 times hikes in 2023. Quantitative tightening will be discussed further at the next meeting in May. The planned rate hikes are within the market expectation range 6 – 7 times this year, hence recent uncertainty in the bond market can be minimalized. The 2 – year Treasury yield tops 10 – year rate for the first time since 2019, sending a possible warning signal that a recession in the US economy could be on the horizon. We think the world is still engaged with inflation and the impact of war which could be a big risk if the policymakers took a faulty step. Indonesia is still in the early cycle of expansion economy for many healthy fundamental reasons. The bond yield spread between US Treasury and INDOGB narrowed to 470 bps that previously were at 500 bps.
We think the demand for INDOGB can be maintained well because of the ample liquidity that banks currently have. Additionally, with the current fiscal surplus, it is possible if the government to issue fewer bonds than previously budgeted. Also, we think a stable exchange rate can lure foreign investors to own INDOGB because Indonesia’s real yield is still competitive in the global bond market. Our stance on the fixed income market is still neutral for the first half due to global monetary changes that can create volatility in the bond market. We raised our INDOGB yield target 6,50% – 7,00% from previously 6,25% – 6,75% on the back of tension in geopolitical tension and viscous inflation.
Rekomendasi Produk
| PRODUK | |
|---|---|
| MIDU | Reksa Dana MIDU berinvestasi pada Instrumen Obligasi dengan segmen Jangka Menengah dan dikategorikan berisiko Rendah – Menengah. Investor memiliki risiko atas Portofolio Obligasi tersebut. |
Info Lebih Lanjut
Hubungi Mandiri Investasi – (021) 526 3505
Whatsapp Mandiri Investasi – 0816 86 0003
Email Mandiri Investasi – [email protected]
Mandiri Investasi – www.mandiri-investasi.co.id
Moinves – www.moinves.co.id
DISCLAIMER
Pendapat yang diungkapkan dalam artikel adalah untuk tujuan informasi umum saja dan tidak dimaksudkan untuk memberikan saran atau rekomendasi khusus untuk individu atau produk keamanan atau investasi tertentu. Ini hanya dimaksudkan untuk memberikan edukasi tentang industri keuangan. Pandangan yang tercermin dalam konten dapat berubah sewaktu-waktu tanpa pemberitahuan. Seluruh data kinerja dan return investasi yang tertera di artikel ini tidak dapat digunakan sebagai dasar jaminan perhitungan untuk membeli atau menjual suatu efek. Data tersebut merupakan catatan kinerja berdasarkan data historis dan bukan merupakan jaminan atas kinerja suatu efek di masa mendatang. Investasi melalui reksa dana mengandung risiko. Investor wajib membaca dan memahami prospektus sebelum memutuskan untuk berinvestasi melalui reksa dana.
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