Investors turn to government bonds amid market uncertainty

first_imgIndividual investors are showing growing appetite for government bonds (SBN) because the low-risk securities provide promising returns amid uncertain market conditions, financial analysts have said.Jason Gozali, founder and CEO of Investor Muda, one of the biggest investor communities in Indonesia, said that investors’ appetite in SBN was growing.“So far, retail investors’ interest in SBN is increasing because it is considered low-risk in comparison to other volatile assets,” he said in Jakarta on April 14. This did not mean, however, that many investors in the equity market had switched to the bond market, said Jason. On the contrary, many online stock trading sites had seen more than a 20 percent rise in trading value compared to last year’s figure.More moderate millennial investors preferred bonds as their investment vehicle and more aggressive millennial investors generally purchased bluechip stocks while they were still cheap, explained Jason, who is also a fund manager and investment consultant.“With the ongoing volatile condition and economic [slowdown], investment potential in bond instruments, including retail bonds, are becoming more attractive,”  head of fixed income research Handy Yunianto of Mandiri Sekuritas  told The Jakarta Post on April 15.With close to zero risk, relatively short tenors and attractive yields in comparison to the market interest rate, government bonds were among the top picks in investment, he elaborated. Handy shared Jason’s view that the growing interest in bonds did not indicate that equity investors had migrated to the bond market.  Each investor had their own risk-return preference, he noted.“However, investing in bonds might see a slight increase” on expectations of lower interest rates, he said, stabilizing currency and curtailing economic growth.Assistant vice president Adra Wijasena of RHB Sekuritas Indonesia told the Post on Friday that in spite of current global uncertainties prompting retail investors to hold on to their cash, investing in SBN was still attractive.Adra explained that liquidity risk could be minimized as long as the trading volume and frequency of SBN in the secondary market was still “quite good”.The confidence of retail investors was apparent in the latest issuance of sharia-compliant government retail bonds (Sukri), while the government saw oversubscription of its Sukri SR-012 bond series between Feb. 24 and March 18.“The public response was very good,” government debt papers director Deni Ridwan of the Finance Ministry told the Post on May 14.The government raised its bond issuance target from an initial Rp 8 trillion (US$537.53 million) to Rp 12.14 trillion, according to the Finance Ministry’s financing and risk management office (DJPPR).But the Sukri SR-012 saw a little under 24,000 buyers compared to 35,000 buyers for the Sukri SR-011 in 2019. The demographics of bond buyers had also changed, with millennials making up 39.58 percent of SR-012 buyers and baby boomers making up 36.5 percent of SR-011 buyers, according to DJPPR data.“Details on the [bond] type and amount are still under discussion. Hopefully, we will be able to publish the information in the near future,” Deni said, when asked about the upcoming issuance of retail SBN in June.The government plans to issue the retail savings bond (SBR) series SBR-010 from June 23 to July 9, according to the Finance Ministry’s issuance calendar.The government also plans to issue six SBN bonds this year, down from 10 bonds last year. Government bonds have a key role in financing the state budget and the national COVID-19 mitigation efforts.“We will prioritize SBN issuance through a market mechanism, including retail [bonds], [valued at] around Rp 50 to Rp 70 trillion,” Finance Minister Sri Mulyani Indrawati said on April 30 at a working meeting with House of Representatives Commission XI overseeing financial affairs.Topics :last_img read more

Nominations for 2012 Anthony N Sagba Caribbean Awards now open

first_img Share Share 19 Views   no discussions NewsRegional Nominations for 2012 Anthony N Sagba Caribbean Awards now open by: – July 4, 2011 Sharing is caring!center_img Share Tweet Members of the Eminent Persons Panel at this awards ceremony earlier this year. The nominations for the 2012 Anthony N Sabga Caribbean Awards for Excellence officially opened on June 1, and will officially close on August 31, 2011.This is the second year of our yearly cycle and the transition has been seamless. The committees and Panel have adjusted and all deadlines were met with ease. Again this year the call for nominations is open, and not dependent upon the committees’ resources. We have, however, realized the need to increase visibility and media awareness of our presence in the region and further.The 2011 call for nominations was augmented by print advertising throughout the English- speaking Caribbean, and direct contact with a number of professional and academic institutions, primarily the University of the West Indies. Most territories registered no increases in the number of nominations, with the exception of Trinidad & Tobago, where the number of nominations saw amarginal increase. We have deduced that this is because of the high exposure the Awards acquired via our public lectures, and our media coverage.Following from this, we have changed our strategy in the 2012 cycle. Rather than rely on only print and mail contact, we have been able to have the Awards profiled in a regional television programme, Caribbean Passport, which aired on television stations throughout the region in June and July.A profile of the Caribbean Awards will be featured as part of Caribbean Airlines inflight presentation in July-August. We hope these strategies will bear the fruit of further exposure of the Awards, since all the good work we do will be for naught if is remains unseen and unrecognized.We urge all our subscribers to be sensitive to opportunities for such exposure.The Anthony N. Sabga Caribbean Awards for Excellencelast_img read more

Ayoze Perez joins Leicester from Newcastle

first_imgLosing Perez is a further blow to the Magpies after former boss Rafael Benitez left the club following the end of his contract, joining Chinese Super League side Dalian Yifang.Perez scored 48 goals in 195 games for the Magpies after joining from Tenerife in 2014.The 25-year-old was Newcastle’s top scorer last season, with 13 goals.“I think Ayoze will be a wonderful addition to the squad,” said Leicester boss Rodgers. “He’s quick, has a good eye for goal and he’s experienced in the Premier League too.“I think he’s a player who will excite our supporters, and his style is one that I believe complements the options and quality that we already have here at the club.”Share on: WhatsApp Ayoze Perez. photo via @LCFCLondon, United Kingdom | AFP | Leicester on Thursday completed the signing of Ayoze Perez from fellow Premier League side Newcastle for a reported fee of £30 million ($38 million).The Spanish forward has signed a four-year contract at the King Power Stadium to become Brendan Rodgers’ second summer capture.Rodgers had been looking for a versatile forward and the Foxes reportedly triggered Perez’s release clause.“I’m very happy and very pleased. I’m very proud to be part of the Leicester family and I can’t wait to get started,” Perez told LCFC TV.“The club want to keep growing as much as they can and that’s something I like. I spoke with the manager and that was important. That made me feel very comfortable about the decision to come here.”The former Premier League champions are also determined to keep Harry Maguire, with Manchester United having made a reported offer of £70 million offer for the England defender.last_img read more

Elijah ‘Lucky’ Miller passes at 104

first_imgELIJAH MILLER Elijah Daniel “Lucky” Miller was such a fixture at Homestead’s Second Baptist Church, it is doubtful anyone will surpass his 65-year attendance record. He was remembered there in a home going ceremony Oct. 18. Miller passed away Oct. 12 at West Penn Hospital’s Forbes Hospice. He was 104. In 1926 he moved from his native Virginia to work at U.S. Steel’s Homestead Works. Until his death, he was still collecting a pension. “If they’d known I was going to live this long, they’d have cut my head off and gave it to the chickens,” he joked during a 2002 interview with the New Pittsburgh Courier.Miller worked in the chimney yard, which he said paid more money than a lot of mill jobs, but there was a reason for that—noise.“The doctor told me to get out there because with all the hammering and noise, I’d go deaf,” he said. “So I drove a truck after that, hauling the dolomite around the mill to clean out the furnaces.”Though some knew Miller was U.S. Steel’s longest surviving pensioner, most knew him as the last person directly associated with the greatest team in Negro League baseball history—the Homestead Grays. He was their back-up batboy.Featuring legendary players like Josh Gibson, “Cool Papa” Bell, Buck Leonard and Satchel Paige, the Grays dominated Negro League baseball for nearly 50 years. And between 1935 and 1947, they won every championship series played.“I was there when Satchel Paige told the outfielders to sit down because no balls were coming out there, then struck out the side,” Miller said. “And at the Grays’ field over on West Run Road, I saw Josh (Gibson) hit one that went over the mill and into the river—550 feet.”But Miller wasn’t just remembered locally. In 2003, when John “Buck” O’Neil, the legendary former Kansas City Monarch’s first baseman and coach and chairman of the Negro Leagues Baseball Museum visited the Hill District for the first time in 60 years, before signing a single autograph, he wanted to see “Lucky.”Asking, “Where’s the old man,” the (then) 91-year-old O’Neil made his way through the crowded lobby at One Hope Square to find Miller.“Lucky Miller,” O’Neil shouted as he sat down. “The last time I saw you was at the Crawford Grill, with Satchel (Paige) sitting on one end of the bar and Josh (Gibson) on the other.”Following the service, Miller was interred at Homewood Cemetery.Miller is survived by his children Annie J. Reeves (Bill), Ruth L. Hines (Joseph) and Daniel E. “Billy” Miller, 10 grandchildren, 15 great grandchildren, and one great-great grandchild.(Send comments to [email protected])last_img read more