Indonesian Bonds Are Top Pick for Schroders on Purbaya, BI Bets

Schroder Investment Management favors Indonesian bonds and the rupiah as its top picks in Asia, betting that government efforts to boost growth and expectations of further interest-rate cuts will draw foreign inflows.
The bullish view comes as new finance minister Purbaya Yudhi Sadewa channeled about 200 trillion rupiah ($12 billion) of government cash reserves kept at the central bank into state lenders to boost credit — a shift from his predecessor Sri Mulyani Indrawati ’s approach of building fiscal buffers.