SINGAPORE : A sudden surge of foreign interest in Indonesian bonds may be reaching a peak, as investors see local interest rates holding steady while the outlook for U.S. rates again rises.Also, analysts say, many investors have already bought the larger holdings of Indonesian bonds they sought in four mo
SINGAPORE : A sudden surge of foreign interest in Indonesian bonds may be reaching a peak, as investors see local interest rates holding steady while the outlook for U.S. rates again rises.
But bullishness has faded since strong U.S. inflation and labour data this month suggested the Fed would push interest rates higher than previously thought. On Feb. 16, Indonesia's central bank kept its key interest rate unchanged and said the current level should be enough to guide inflation back to target.
"But if you already have an existing overweight on some of these things, I think they would continue doing quite well for a bit longer." The fed funds rate seemed to be peaking, upward pressure on natural gas prices in Europe was easing, the dollar retreated and China began dismantling its pandemic controls, he said.ON-OFF AFFAIR
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