{"id":9353,"date":"2023-02-13T00:00:00","date_gmt":"2023-02-12T17:00:00","guid":{"rendered":"http:\/\/mandiri.test\/uncategorized-id\/bond-market-commentary-jan-2023\/"},"modified":"2026-01-19T16:36:23","modified_gmt":"2026-01-19T09:36:23","slug":"bond-market-commentary-jan-2023","status":"publish","type":"post","link":"https:\/\/mandiri-invest.azdevs.my.id\/en\/market-update\/bond-market-commentary-jan-2023\/","title":{"rendered":"Bond Market Commentary : January 2023"},"content":{"rendered":"

Aimed Direction<\/h2>\n

Fixed income asset class continues the positive run amidst increasing benchmark rates. Even though the benchmark rates keep increasing to counter inflation, but the incremental rate hike will be lower and soon will reach the peak. Global inflation has slowed down in an expected direction. However, we see the economic headwind might still be strong where the employment condition in the US is still strong as the unemployment rate was stable at a low level and non-farm payroll was much higher than expected in January 2023. This can create volatility in the bond market as the Fed\u2019s current stance is all out to fight inflation including embedded inflation caused by strong employment.<\/p>\n

INDOGB yield stabilized at a lower level in January due to two reasons, a strong exchange rate and a solid trade balance surplus trend. The Rupiah could strengthen to below Rp 15,000 per USD which is a sign of foreign fund inflow and economic fundamental is in good shape. Additionally, the trade balance can be maintained surplus which can support the current account surplus that is crucial for the exchange rate.<\/p>\n

We think the INDOGB might be poised to adjust as the US Treasury is still volatile and the spread between the two yields is not likely to be lower than 300 bps. The Fed\u2019s benchmark rate might be close to the peak, but the market narrative on employment could impulse the US Treasury yield to make to bounce higher. We see this as an entry point for investors who will invest in bond asset class.<\/p>\n

<\/h2>\n

Rekomendasi Produk<\/h2>\n\n\n\n\n\n\n\n
PRODUK<\/th>\n<\/tr>\n<\/thead>\n
MIDU<\/a><\/td>\nReksa Dana MIDU berinvestasi pada Instrumen Obligasi dengan segmen Jangka Menengah dan dikategorikan berisiko rendah – menengah.
\nInvestor memiliki risiko atas Portofolio Obligasi tersebut.<\/td>\n<\/tr>\n
IDAMAN<\/a><\/td>\nReksa Dana IDAMAN berinvestasi pada Obligasi Pemerintah Indonesia USD dengan durasi pendek dan dikategorikan berisiko menengah.
\nInvestor memiliki risiko atas Portofolio Obligasi tersebut.<\/td>\n<\/tr>\n
MIDO2<\/a><\/td>\nReksa Dana MIDO2 berinvestasi pada Obligasi Pemerintah Indonesia Rupiah dengan durasi panjang dan dikategorikan berisiko tinggi.
\nInvestor memiliki risiko atas Portofolio Obligasi tersebut.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

\n

<\/h3>\n

Info Lebih Lanjut<\/h3>\n

Hubungi Mandiri Investasi –\u00a0(021) 526 3505<\/a>
\nWhatsapp Mandiri Investasi – 0816 86 0003
\nEmail Mandiri Investasi – cs@mandiri-investasi.co.id
\nMandiri Investasi –\u00a0www.mandiri-investasi.co.id<\/a>
\nMoinves –\u00a0www.moinves.co.id<\/a><\/p>\n

 <\/p>\n

\n

 <\/p>\n

DISCLAIMER<\/em>
\n
\nPendapat 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.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

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