Indonesia’s economic growth and push for investment grade status is beneficial for the country’s bonds, Luke Spajic, head of portfolio management for emerging Asia at Pimco, says in media briefing in Hong Kong.
“There is a sweet spot for Indonesia as long as they keep up with structural reform and keep engaging investors with the right kind of feedback,” he says.
Fitch changed its outlook for Indonesia to positive from stable last month. It rates the sovereign at BBB-.
Moody’s has a Baa3 rating on Indonesia while S&P rates it at BB+.
Pimco favors Asian IG notes over HY; underweight China property bonds .
Maintaining growth rate will be challenging for China next year and property market growth in the country won’t be as robust in 2017 as last year.
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