SUN foreign portion increased to Rp119, 01 trillion
Wednesday, 17/02/2010 13:00:16 WIB
By Irvin Avriano A.
for Bisnis Indonesia
JAKARTA (Bisnis.com): Foreign ownership in government bonds (surat utang negara/SUN) continues to increase from IDR118.84 trillion on Monday to IDR119.01 trillion on Tuesday this week amid a crisis of Greece and Spain state's bonds are still plagued the global capital markets.
Directorate General of Debt Management Data MoF which issued today showed that ownership through ownership of foreign investors continue to break the record again which occur since the beginning of this year.
Bond analyst from PT Kim Eng Securities Dian Abdul Hakim in his research said the global bond market participants confused by the Greek bond sale plan as an effort to overcome the debt crisis in the country to close the budget deficit.
"However, through Goldman Sachs as one of the underwriters [the Greek government bonds], the publication also features currency swap with a pretext to minimize any additional risk for the circulation of these bonds," he said in their company's research released today.
He said the assess of the bond crisis did not affect the changes in the yield movement in the SUN secondary market significantly, because it just still moving in the range of 3 basis points (bps) in Tuesday trading record.
Market activity is still moderate, he said, causing the movement of yield from some tenor SUN is also still a little fluctuating.
He's just worried about the negative issues in line with the Greeks is the U.S. government bond prices bounce back to all the tenure of the bonds due to transition back into the U.S. market, in an effort to seek safer debt instruments. (wiw)