JAKARTA. Analysts predict that the prices of Indonesian bonds will continue to rise this year, following the improvement in the Indonesia Composite Bond Index (ICBI) earlier this year.
As on Friday (10/1), ICBI was at the level of 277.4216, its highest level of all time. Throughout 2020, the Indonesian bond index has gone up by 1.07%.
Bond analyst from BNI Sekuritas Ariawan revealed that the upward trend in ICBI will continue in the future. This condition is related to the conflict of the United States (US) with Iran which currently tends to subside. Historically, said Ariawan, throughout January, market conditions tended to improve. "The projection is that throughout 2020, ICBI is likely to increase by 9% to 10%," he said on Friday (10/1).
According to him, the condition of the domestic economy which is considered quite strong at this time will help attract foreign funds into the Indonesian bond market. (AM/AR)