{"id":9701,"date":"2024-10-23T00:00:00","date_gmt":"2024-10-22T17:00:00","guid":{"rendered":"http:\/\/mandiri.test\/uncategorized-id\/monthly-macro-review-sept-24\/"},"modified":"2026-01-19T16:36:42","modified_gmt":"2026-01-19T09:36:42","slug":"monthly-macro-review-sept-24","status":"publish","type":"post","link":"https:\/\/mandiri-invest.azdevs.my.id\/en\/market-update\/monthly-macro-review-sept-24\/","title":{"rendered":"Monthly Macro Review : Play offense, not defense"},"content":{"rendered":"<section class=\"post-full-content\">\n<div class=\"post-content\">\n<p>Investor global dan domestik menyambut baik keputusan Bank Sentral AS menurunkan suku bunga acuan. Keputusan tersebut merupakan langkah yang telah dinantikan oleh berbagai pihak agar AS tidak terjatuh dalam kondisi resesi. Bank Indonesia juga menurunkan BI rate pada September 2024 setelah terakhir kali menaikannya pada April 2024. Kondisi neraca dagang surplus yang membuat Rupiah menguat dan inflasi yang semakin turun dipercaya sebagai dasar penurunan BI rate. Investor menjadi <i>risk on <\/i>terhadap kondisi pasar ekuitas dan obligasi ke negara EM seperti Indonesia. Indeks saham global dan domestik mencatatkan rekor tertinggi dalam sejarah. Keadaan positif pasar modal masih dapat berlanjut pada kuartal keempat dengan sejumlah peristiwa penting seperti pergantian pemerintahan, Pilkada serta musim libur akhir tahun.<\/p>\n<p>&nbsp;<\/p>\n<h2 id=\"overview\">Overview<\/h2>\n<p>&nbsp;<\/p>\n<p><i>Federal Reserve <\/i>(<i>The Fed<\/i>) menurunkan suku bunga sebesar 50 basis poin menjadi 5,00%, sebuah langkah yang dianggap menguntungkan bagi perekonomian AS. <i>The Fed <\/i>kemungkinan mempercepat penurunan suku bunga untuk memungkinkan perekonomian merasakan dampak penuh dari perubahan kebijakan moneter. Secara historis, penurunan suku bunga yang besar kadang-kadang menyebabkan resesi, namun kali ini diharapkan penurunan suku bunga akan membantu mengarahkan perekonomian AS yang melambat menuju <i>soft landing<\/i>, bukan resesi. Meskipun ekonomi melambat, perlambatan ini tidak dianggap mengkhawatirkan.<\/p>\n<p>Sementara itu, Bank Sentral Tiongkok (<i>PBoC<\/i>) menerapkan stimulus moneter untuk mendukung perekonomian Tiongkok. Bank sentral telah memperkenalkan dana sebesar RMB 800 miliar (USD 114 miliar) yang ditujukan untuk mendongkrak pasar saham, dengan memberikan pinjaman kepada manajer investasi, perusahaan asuransi, sekuritas, dan perusahaan yang terdaftar di bursa saham untuk membeli kembali saham. Selain itu, PBoC juga memperkenalkan langkah-langkah seperti penurunan suku bunga acuan, suku bunga KPR, dan penurunanan nilai persyaratan uang muka KPR.<\/p>\n<p>Di Indonesia, terjaganya tingkat inflasi serta nilai tukar Rupiah yang cenderung terapresiasi, membuat Bank Indonesia dapat mengambil langkah akomodatif melalui penurunan <i>BI <\/i><i>Rate <\/i>sebesar 25bps untuk mendorong perekonomian, di tengah rendahnya PMI Manufaktur dalam dua bulan terakhir. Langkah awal BI ini diharapkan dapat meningkatkan ketahanan ekonomi domestik.<\/p>\n<\/div>\n<div class=\"post-content\">\n<p>&nbsp;<\/p>\n<h2 id=\"topic-of-discussion\">Topic of discussion<\/h2>\n<p>&nbsp;<\/p>\n<ul>\n<li>Inflasi<\/li>\n<li>PMI Manufacturing dan Indeks Keyakinan Konsumen<\/li>\n<li>Data makro ekonomi<\/li>\n<li>Penjualan mobil dan motor<\/li>\n<li>Neraca dagang<\/li>\n<li>Analisa kondisi makro ekonomi dan kondisi pasar modal<\/li>\n<li>Kesimpulan dan Rekomendasi<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h2 id=\"rekomendasi\">Rekomendasi<\/h2>\n<p>&nbsp;<\/p>\n<p>Sinyal taktikal strategi jangka pendek pada Oktober 2024 menunjukan sinyal positif untuk kelas obligasi sehingga tetap berada pada 47,5%, namun kelas saham yang dikurangi ke level 42,5% sehingga porsi pasar uang turun menjadi 10,0%. Rekomendasi produk saham bertahan pada saham berkapitalisasi besar yaitu RD MITRA, RD Index FTSE Indonesia ESG dan ETF Mandiri Indeks LQ45 (XMLF). Sementara pada kelas pendapatan tetap produk RD IDAMAN dan MIDO2 dapat menjadi pertimbangan untuk investor yang ingin memiliki eksposur produk berdurasi menengah &#8211; panjang (risiko tinggi). Kondisi positif untuk saham dan obligasi membuat kami merekomendasikan produk pengelolaan campuran yaitu\u00a0 RD MISB (RD Mandiri Investa Syariah Berimbang) yang berkinerja baik pada tahun ini. Pada kelas pasar uang, produk RD MIPU dan RD MMUSD dapat dipertimbangkan di tengah penurunan yield obligasi.<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<\/section>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\" wp-image-10981 aligncenter\" src=\"https:\/\/mandiri-invest.azdevs.my.id\/wp-content\/uploads\/2025\/12\/Screenshot-2024-10-23-at-14.59.07.png\" alt=\"\" width=\"648\" height=\"447\" \/><\/p>\n<p>&nbsp;<\/p>\n<section class=\"post-full-content\">\n<div class=\"post-content\">\n<h2 id=\"rekomendasi-produk\">Rekomendasi Produk<\/h2>\n<p>&nbsp;<\/p>\n<h3 id=\"saham\">Saham<\/h3>\n<ul>\n<li><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/saham\/mandiri-investa-cerdas-bangsa-micb-kelas-a\/\">Mandiri Investa Cerdas Bangsa (MICB) \u2013 Kelas A<\/a><br \/>\nSaham LQ45, Mayoritas saham kapitalisasi besar, dan Denominasi Rupiah<\/li>\n<li><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/saham\/mandiri-investa-equity-asean-5-plus-asean-5\/\">Mandiri Investa Equity Asean 5 Plus (MANSEA5)<\/a><br \/>\nSaham domestik &amp; global, All cap fund, dan Denominasi Rupiah<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3 id=\"saham-global\">Saham Global<\/h3>\n<ul>\n<li><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/syariah\/mandiri-global-sharia-equity-dollar-mgsed-kelas-a\/\">Mandiri Global Sharia Equity Dollar (MGSED) \u2013 Kelas A<\/a><br \/>\nSaham global, Denominasi USD, dan Kerjasama dengan JP Morgan AM<\/li>\n<li><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/saham\/mandiri-asia-sharia-equity-dollar-mased-kelas-a\/\">Mandiri Asia Sharia Equity Dollar (MASED) \u2013 Kelas A<\/a><br \/>\nSaham Asia dan Denominasi USD<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3 id=\"index\">Index<\/h3>\n<ul>\n<li><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/indeks\/mandiri-indeks-ftse-indonesia-esg-kelas-a\/\">Mandiri Indeks FTSE Indonesia ESG (FTSEESG) \u2013 Kelas A<\/a><br \/>\nSaham domestik, Denominasi Rupiah, Berorientasi ESG, dan Pengelolaan pasif<\/li>\n<li><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/etf\/mandiri-etf-lq45\/\">Mandiri ETF LQ45 (XMLF)<\/a><br \/>\nTracking error rendah, Transaksi jual\/beli dapat di lakukan setiap saat, dan Nilai transaksi real time<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3 id=\"pendapatan-tetap\">Pendapatan Tetap<\/h3>\n<ul>\n<li><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/pendapatan-tetap\/mandiri-investa-dana-utama-midu\/\">Mandiri Investa Dana Utama (MIDU)<\/a><br \/>\nObligasi pemerintah &amp; korporasi, Pembagian dividen bulanan, dan Durasi: pendek (&lt; 4 tahun)<\/li>\n<li><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/pendapatan-tetap\/investa-dana-dollar-mandiri-idaman\/\">Investa Dana Dollar Mandiri (IDAMAN)<\/a><br \/>\nObligasi pemerintah USD (INDON), Durasi menengah &#8211; panjang, dan Denominasi USD<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3><strong>Campuran<\/strong><\/h3>\n<ul>\n<li><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/syariah\/mandiri-investa-syariah-berimbang-misb\/\">Mandiri Investa Syariah Berimbang (MISB)<\/a><br \/>\nObligasi Syariah (Sukuk), Durasi pendek &#8211;\u00a0 menengah<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3 id=\"pasar-uang\">Pasar Uang<\/h3>\n<ul>\n<li><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/pasar-uang\/mandiri-investa-pasar-uang-mipu-a-2\/\">Mandiri Investa Pasar Uang (MIPU)<\/a><br \/>\nInstrumen Pasar Uang dengan segmen Jangka Pendek<\/li>\n<li><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/pasar-uang\/mandiri-money-market-usd-mmusd\/\">Mandiri Money Market USD (MMUSD)<\/a><br \/>\nInstrumen Pasar Uang dan Denominasi USD<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<table class=\"table table-striped table-bordered\">\n<thead>\n<tr>\n<th>PRODUK<\/th>\n<th>3M PERFORMANCE<\/th>\n<th>YTD PERFORMANCE<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td colspan=\"3\">Saham<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/saham\/mandiri-investa-cerdas-bangsa-micb-kelas-a\/\">MICB A<\/a><\/td>\n<td><span class=\"loss\"><span class=\"gain\">+4,8%<\/span><\/span><\/td>\n<td><span class=\"loss\"><span class=\"gain\">+2,3%<\/span><\/span><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/saham\/mandiri-investa-equity-asean-5-plus-asean-5\/\" target=\"_blank\" rel=\"noopener\">ASEAN5<\/a><\/td>\n<td><span class=\"gain\">+4,6%<\/span><\/td>\n<td><span class=\"gain\">+1,2%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<tbody>\n<tr>\n<td colspan=\"3\">Saham Global<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/syariah\/mandiri-global-sharia-equity-dollar-mgsed-kelas-a\/\" target=\"_blank\" rel=\"noopener\">MGSED A<\/a><\/td>\n<td><span class=\"gain\">+1,7%<\/span><\/td>\n<td><span class=\"gain\">+16,0%<\/span><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/saham\/mandiri-asia-sharia-equity-dollar-mased-kelas-b\/\" target=\"_blank\" rel=\"noopener\">MASED B<\/a><\/td>\n<td><span class=\"gain\">-3,2%<\/span><\/td>\n<td><span class=\"loss\">+1,7%<\/span><\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\">Index<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/indeks\/mandiri-indeks-ftse-indonesia-esg-kelas-a\/\" target=\"_blank\" rel=\"noopener\">FTSE ESG A<\/a><\/td>\n<td><span class=\"gain\">+4,2%<\/span><\/td>\n<td><span class=\"gain\">+1,9%<\/span><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/etf\/mandiri-etf-lq45\/\" target=\"_blank\" rel=\"noopener\">XMLF<\/a><\/td>\n<td><span class=\"gain\">+2,6%<\/span><\/td>\n<td><span class=\"gain\">+0,2%<\/span><\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\">Pendapatan Tetap<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/reksa-dana\/pendapatan-tetap\/mandiri-investa-dana-utama-midu?utm_source=weekly-market-recap\" target=\"_blank\" rel=\"noopener\">MIDU<\/a><\/td>\n<td><span class=\"gain\">+1,90%<\/span><\/td>\n<td><span class=\"gain\">+3,36%<\/span><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/pendapatan-tetap\/investa-dana-dollar-mandiri-idaman\/\" target=\"_blank\" rel=\"noopener\">IDAMAN<\/a><\/td>\n<td><span class=\"loss\">+2,58%<\/span><\/td>\n<td><span class=\"loss\">+0,89%<\/span><\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\">Campuran<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/syariah\/mandiri-investa-syariah-berimbang-misb\/?utm_source=weekly-market-recap\" target=\"_blank\" rel=\"noopener\">MISB<\/a><\/td>\n<td><span class=\"gain\">+2,92%<\/span><\/td>\n<td><span class=\"gain\">+4,68%<\/span><\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\">Pasar Uang<\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/pasar-uang\/mandiri-investa-pasar-uang-mipu-2\/\" target=\"_blank\" rel=\"noopener\">MIPU<\/a><\/td>\n<td><span class=\"gain\">+1,13%<\/span><\/td>\n<td><span class=\"gain\">+3,51%<\/span><\/td>\n<\/tr>\n<tr>\n<td><a href=\"https:\/\/www.mandiri-investasi.co.id\/id\/produk\/reksa-dana\/pasar-uang\/mandiri-money-market-usd-mmusd\/\" target=\"_blank\" rel=\"noopener\">MMUSD<\/a><\/td>\n<td><span class=\"gain\">+0,88%<\/span><\/td>\n<td><span class=\"gain\">+2,56%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>*Data diatas adalah data per tanggal 22 Oktober 2024<\/p>\n<p>&nbsp;<\/p>\n<p>Untuk membaca hal-hal yang terjadi di bulan September 2024 yang mempengaruhi ekonomi secara makro selengkapnya disini:<\/p>\n<p><a class=\"invest-button\" href=\"https:\/\/www.mandiri-investasi.co.id\/wp-content\/uploads\/2024\/10\/Monthly-Macro-Review-Sep24.pdf\">Baca Selengkapnya<\/a><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<h3 id=\"info-lebih-lanjut\">Info Lebih Lanjut<\/h3>\n<p>Hubungi Mandiri Investasi &#8211;\u00a0<a href=\"tel:0215263505\">(021) 526 3505<\/a><br \/>\nWhatsapp Mandiri Investasi &#8211; 0816 86 0003<br \/>\nEmail Mandiri Investasi &#8211;\u00a0cs@mandiri-investasi.co.id<br \/>\nMandiri Investasi &#8211;\u00a0<a href=\"https:\/\/www.mandiri-investasi.co.id\/\">www.mandiri-investasi.co.id<\/a><\/p>\n<hr \/>\n<p><em>DISCLAIMER<\/em><br \/>\n<em><br \/>\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<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Investors welcome The Fed and BI rate cuts. Stock and bond markets hit record highs, optimism continues into Q4 with key events ahead.<\/p>\n","protected":false},"author":2,"featured_media":7498,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[368,382],"tags":[365],"class_list":["post-9701","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-update","tag-english"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Monthly Macro Review : Play offense, not defense - Mandiri Investasi<\/title>\n<meta name=\"description\" content=\"Investors welcome The Fed and BI rate cuts. 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