Debt Monetization Creeps Closer to Global Investors’ Wary Relief
- BlackRock, JPMorgan see a tsunami of central bank purchases
- Bank Indonesia is already buying debt in the primary market
The Bank Indonesia headquarters in Jakarta, Indonesia.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
A massive shift that’s starting to play out in Asia’s bond markets is finding cautious support from some of the world’s largest investors.
From Jakarta to Wellington, policy makers are challenging taboos and creeping closer toward the monetization of government debt, breaking new ground after the U.S. and Europe took the lead in crisis management a decade ago.