Indonesian Government Bond Market: Challenges and Opportunities for Investors

Minggu, 12 Maret 2023 | 17:07 WIB
Indonesian Government Bond Market: Challenges and Opportunities for Investors
[ILUSTRASI. Indonesian Government Bond Market: Challenges and Opportunities for Investors. KONTAN/Cheppy A. Muchlis/04/12/2018]
Reporter: Nur Qolbi | Editor: Hasbi Maulana

KONTAN.CO.ID - JAKARTA. Foreign ownership of government bonds in Indonesia's market (SBN) has decreased once again. As of March 8th, 2023, foreign positions in the SBN market amounted to Rp 798.05 trillion, or 14.65% of the total. This figure is down from the end of February 2023 when it stood at Rp 804 trillion, or 14.79% of the total.

According to Fixed Income Analyst at Sucorinvest Asset Management, Alvaro Ihsan, the decrease in foreign ownership of SBN bonds is due to the strong US labor market conditions and inflation rates above expectations. In January 2023, US inflation reached 6.4% annually, higher than the expected rate of 6.2%.

PTBA Remains Upbeat Despite Turbulent Coal Market

In addition, the US central bank, The Fed, is potentially considering aggressively increasing its benchmark interest rates. "In the short term, foreign ownership is still likely to decline, although the impact may not be significant, as the percentage is not as high as it was in previous years," said Alvaro on Thursday, March 9th.

Investment Analyst at Infovesta Kapital Advisori, Fajar Dwi Alfian, added that the decrease in foreign ownership of SBN bonds is a result of global sentiment, particularly regarding the expectation of The Fed's more aggressive interest rate increases. This condition has caused US bond yields to rise and the rupiah exchange rate to be pressured again.

Fajar believes that foreign investment in the SBN market will depend heavily on the prospects of monetary policy in the US. If The Fed raises interest rates aggressively, the negative impact on foreign investment in the SBN market could be significant.

Investing in BUMN Companies: Opportunities Arise as 2022 Performance Soars

"If US economic data, including inflation, remains solid, it could be a negative sentiment for foreign investors," said Fajar.

Meanwhile, the sentiment that could attract foreign investment back into the SBN market is the easing of market concerns about The Fed's expected interest rate increases and the trend of declining global inflation. Fajar sees this as a possibility in the second half of 2023.

Alvaro predicts that bond prices will be quite volatile in the short term. However, if investors have a medium-term investment horizon, with attractive yield rates, then SBN bonds can provide good returns.

Sluggish Commodity Prices Cause Decline in Stock Index of 30 Companies

Fajar added that in the short term, investors can rotate their bond assets to shorter tenors while still considering the attractive valuations of medium and long-term tenors. Investors can also use averaging down strategies as the yield rates become more attractive.

Bagikan

Berita Terbaru

Profit 27,11% Setahun, Harga Emas Antam Hari Ini Melonjak (5 Agustus 2025)
| Selasa, 05 Agustus 2025 | 17:02 WIB

Profit 27,11% Setahun, Harga Emas Antam Hari Ini Melonjak (5 Agustus 2025)

Harga emas batangan Antam 24 hari ini masih sesuai update 4 Agustus 2025 di Logammulia.com Rp 1.959.000 per gram, buyback Rp 1.805.000 per gram.

PDB Indonesia Naik 5,12% di Kuartal II-2025, Investasi Meningkat Saat Konsumsi Seret
| Selasa, 05 Agustus 2025 | 12:55 WIB

PDB Indonesia Naik 5,12% di Kuartal II-2025, Investasi Meningkat Saat Konsumsi Seret

BPS melaporkan bahwa pertumbuhan ekonomi Indonesia pada kuartal II-2025 mencapai 5,12% secara tahunan.

Rogoh Kocek Rp 800 Miliar, Bangun Kosambi (CBDK) Bangun Hotel Hilton di PIK2
| Selasa, 05 Agustus 2025 | 10:55 WIB

Rogoh Kocek Rp 800 Miliar, Bangun Kosambi (CBDK) Bangun Hotel Hilton di PIK2

Hotel Hilton Jakarta PIK2 ini dirancang menjadi akomodasi utama bagi pelaku MICE, wisatawan, hingga pebisnis dari dalam dan luar negeri. ​

Kinerja Keuangan Masih Turun tapi Target Harga Saham UNVR Dikerek Sejumlah Sekuritas
| Selasa, 05 Agustus 2025 | 08:49 WIB

Kinerja Keuangan Masih Turun tapi Target Harga Saham UNVR Dikerek Sejumlah Sekuritas

Buyback dengan anggaran Rp 2 triliun akan meningkatkan EPS dan menjadi penopang harga saham UNVR dalam jangka pendek.

Sentimen Daya Beli Masyarakat Melemah, Berikut Proyeksi IHSG Hari Ini
| Selasa, 05 Agustus 2025 | 08:26 WIB

Sentimen Daya Beli Masyarakat Melemah, Berikut Proyeksi IHSG Hari Ini

Ini bukti daya beli melemah, seiring komposisi produk domestik bruto (PDB) terbesar dari konsumsi rumah tangga. 

Seiring Akuisisi Perusahaan Pertambangan Emas Grup HBS, Margin PTRO Bakal Terdongkrak
| Selasa, 05 Agustus 2025 | 08:18 WIB

Seiring Akuisisi Perusahaan Pertambangan Emas Grup HBS, Margin PTRO Bakal Terdongkrak

Efek akuisisi diprediksi akan berdampak signifikan terhadap kinerja keuangan PT Petrosea Tbk (PTRO) mulai 2026.

Aneka Tambang (ANTM) Meraih Fasilitas Kredit Senilai Rp 8,2 Triliun
| Selasa, 05 Agustus 2025 | 08:12 WIB

Aneka Tambang (ANTM) Meraih Fasilitas Kredit Senilai Rp 8,2 Triliun

Bunga dengan jumlah keseluruhan dari margin, yaitu 1,025% untuk kreditur luar negeri dan 1,075% untuk kreditur dalam negeri.

Rilis Kinerja yang Apik Jadi Momentum bagi Investor Ambil Untung di Saham FORE
| Selasa, 05 Agustus 2025 | 07:55 WIB

Rilis Kinerja yang Apik Jadi Momentum bagi Investor Ambil Untung di Saham FORE

Tekanan jual yang masih tinggi membuat investor mesti lebih berhati-hati saat ingin masuk ke saham FORE dalam jangka pendek.

Menjaga Kinerja Investasi, Investor Memburu Portofolio yang Lebih Aman
| Selasa, 05 Agustus 2025 | 07:48 WIB

Menjaga Kinerja Investasi, Investor Memburu Portofolio yang Lebih Aman

Dana asing yang hengkang dari pasar domestik mencerminkan bahwa sebagian investor asing kini memilih pasar lain

Ada Transaksi Crossing Rp 262,50 Miliar, Selasa (5/8) CDIA Keluar dari Kerangkeng BEI
| Selasa, 05 Agustus 2025 | 07:39 WIB

Ada Transaksi Crossing Rp 262,50 Miliar, Selasa (5/8) CDIA Keluar dari Kerangkeng BEI

Saat diperdagangkan secara FCA selama tujuh hari beruntun, CDIA mencatatkan ARA sebanyak empat kali.

INDEKS BERITA

Terpopuler