{"id":9455,"date":"2023-08-09T00:00:00","date_gmt":"2023-08-08T17:00:00","guid":{"rendered":"http:\/\/mandiri.test\/uncategorized-id\/bond-market-commentary-july-2023\/"},"modified":"2026-01-19T16:36:29","modified_gmt":"2026-01-19T09:36:29","slug":"bond-market-commentary-july-2023","status":"publish","type":"post","link":"https:\/\/mandiri-invest.azdevs.my.id\/en\/market-update\/bond-market-commentary-july-2023\/","title":{"rendered":"Bond Market Commentary : July 2023"},"content":{"rendered":"
\n
\n
\n

Narrow Spread<\/h2>\n

 <\/p>\n

The <\/span>fixed-income<\/span> market was stable in July 2023 despite the Fed raising another 25 bps benchmark rate to 5.50%. The Fed raised the Fed rate on the back of a resilient job market and inflation is still higher than overall inflation. The market sees the consistency of monetary policy is needed to affirm the certainty in fighting against inflation. The narrative of recession has faded and been replaced by soft-landing economic conditions. Bank Indonesia did not hike the benchmark rate on the sight of supporting domestic economic growth. BI uses the twist<\/span> operation in maintaining exchange by selling short-term SBN in the secondary market to increase the attractiveness of SBN yield for foreign portfolio investment inflows.<\/span><\/p>\n

 <\/p>\n

Bank loan growth has declined to 7.76% in June 2023 from 9,39% yoy previous month. Amid loose supply-side conditions due to ample liquidity, high loan disbursement plans and loose lending standards in the banking industry, the corporate sector is accelerating loan repayments while maintaining a wait-and-see stance in increasing future investment plans.<\/span><\/p>\n

 <\/p>\n

IndoGb yield was maintained well at the range of 6.2% – 6.3% in July 2023. We see local ample liquidity is the reason the yield stayed stable. Hence, we are convinced that our 2023 IndoGb yield target can be revised to a range of 6.0% -6.5% from the previous yield target range of 6.5% – 7.0%. <\/span><\/p>\n

 <\/p>\n<\/div>\n<\/div>\n<\/div>\n

Product Recommendation<\/h2>\n

 <\/p>\n\n\n\n\n\n\n\n
PRODUK<\/th>\n<\/tr>\n<\/thead>\n
MIDU<\/a><\/td>\nMIDU invests in Bond Instruments with a Medium-Term segment and is categorized as low to medium risk. Investors bear the risk associated with the Bond Portfolio.<\/td>\n<\/tr>\n
IDAMAN<\/a><\/td>\nIDAMAN invests in Indonesian Government USD Bonds with a short duration and is categorized as medium risk. Investors bear the risk associated with the Bond Portfolio.<\/td>\n<\/tr>\n
MIDO2<\/a><\/td>\n\n
\n
\n
\n
\n
\n
\n

MIDO2 invests in Indonesian Government Rupiah Bonds with a long duration and is categorized as high risk. Investors bear the risk associated with the Bond Portfolio.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

\n

<\/h3>\n

For More Information<\/h3>\n

 <\/p>\n

Contact Mandiri Investasi – (021) 526 3505<\/p>\n

Mandiri Investasi Whatsapp – 0816 86 0003<\/p>\n

Mandiri Investasi Email – cs@mandiri-investasi.co.id<\/a><\/p>\n

Mandiri Investasi Website – www.mandiri-investasi.co.id<\/a><\/p>\n

Moinves Website – www.moinves.co.id<\/a><\/p>\n

 <\/p>\n

\n

 <\/p>\n

DISCLAIMER<\/em>
\n
\nThe opinions expressed in the article are for general informational purposes only and are not intended to provide specific advice or recommendations for individuals or specific mutual fund or investment products. It is intended solely to provide education about the financial industry. Views reflected in the content may change at any time without notice. All performance data and investment returns mentioned in this article cannot be used as a basis for calculation to buy or sell a mutual fund. This data is performance records based on historical data and is not a guarantee of future mutual fund performance. Investment through mutual funds carries risks. Investors are required to read and understand the prospectus before deciding to invest through mutual funds.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The bond market remained stable in July 2023, despite The Fed’s decision to raise the benchmark interest rate by 25 bps to 5.50%.<\/p>\n","protected":false},"author":2,"featured_media":6938,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[368,382],"tags":[365],"class_list":["post-9455","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-update","tag-english"],"acf":[],"yoast_head":"\nBond Market Commentary : July 2023 - Mandiri Investasi<\/title>\n<meta name=\"description\" content=\"The bond market remained stable in July 2023, despite The Fed's decision to raise the benchmark interest rate by 25 bps to 5.50%.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bond Market Commentary : July 2023 - 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