Hi,

  I am confused s to what is happening here. See the output with and 
without setupindenting

\setupindenting [medium,yes]
\starttext

\startformula
   Z^i_1 = f^{i,*}(X^i_1,U)
\stopformula
\startformula
   Z^i_t = f^{i,*}(X^i_t,U, P^i_{M_{t-1}}) \qquad t=2,3,\dots,T
\stopformula

\stoptext

Why does setupindenting eat the space between the formulas?

Aditya

PS: A quick workaround is to use \startformula \startalign etc., but I 
think that there is a buglet somewhere.


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