Indonesia Joins Rush to Dollar Bond Market to Beat Rising Rates
- Country is spending billions to boost pandemic-ravaged economy
- Rare tap of 10-year note to improve liquidity: Maybank Eng Kim
Indonesia has been spending billions of dollars to prop up its economy from the fallout of the pandemic.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
Indonesia’s government is marketing a new 40-year dollar bond, and at the same time seeking to increase its existing 10-year notes as it joins the rush of borrowers looking to lock in funds before rates rise.
Issuers are piling into debt, with record amounts of bonds being priced globally. That’s as the specter of inflation hovers over markets after a jump in some measures of U.S. August producer prices and as investors are trying to judge when central banks will start to pull back support.