Indonesia pre-funds ahead of possible Fed move

The Republic tops and tails 2015 with split 10 and 30-year dollar bonds, which show just what a difference a year can make to investor sentiment.
Seismic activity in emerging markets
Seismic activity in emerging markets

The Republic of Indonesia ROI has topped and tailed 2015 with split 10 and 30-year dollar bonds, which highlight just what a difference a year can make to investor sentiment. 

In January, the Baa3BBBBB- rated sovereign's first deal of the year attracted an enormous $20 billion order book.

However, this strong level of primary demand did not feed through into secondary market performance for very long. Investors who purchased January's $4 billion deal are sitting on losses, which almost certainly weighed on sentiment towards the new $3.5 billion deal, which entered the New York trading day with a far more subdued...

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