HALISTER1: PineBridge Likes Asia Investment-Grade USD Notes, Rupiah Bonds

PineBridge Likes Asia Investment-Grade USD Notes, Rupiah Bonds

(Bloomberg) -- Bond yields will stay lower for longer after Brexit sparked risk aversion, Omar Slim, fund manager for Asian fixed income at PineBridge Investments, says at briefing.
  • Fed unlikely to raise interest rates this year and Bank of England may be cutting interest rates, Markus Schomer, NY- based chief economist, says at same briefing
  • Co. sees Asian investment-grade USD bonds continuing to perform well in environment searching for yield: Slim
  • Investment grade notes are also supported by declining issuance; co. estimates new USD bond issuance from Asia this year dropping to $134.3b in 2016 from $147.7b last year
  • Co. favors Indonesia rupiah bonds because current-account deficit has been narrowing and reforms are being done in the right direction: Slim
  • READ: Templeton Stands by Mexico, Indonesia Amid Emerging- Market Rout
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

People
Omar Slim (PineBridge Investments Holdings US LLC)
Markus Schomer (PineBridge Investments Holdings US LLC)

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