DAILY OUTLOOK
The 10Y SUN yield rose 2.2bps to 7.188% while the 10Y UST edged up 0.23bps to 5.307%, widening the SUN–UST spread to 188.1bps. JISDOR weakened to IDR 17,917/USD from IDR 17,898/USD as the euro slid to a 17-month low on French debt fears and US services prices paid hit their highest since July 2022. Lower odds of an October Fed hike, now around 26%, offer some relief. We expect the 10Y SUN to trade within 7.13%–7.25% today, with no series currently screening Cheap on our valuation, and today’s IDR 10tn sukuk auction will gauge demand.
NEWS HIGHLIGHTS
- Global – Euro Hits 17-Month Low
- Global – US Services Cool, Prices Jump
- Credit – SMF-BTN ABS Ratings Affirmed
- BBRI – Readies IDR 3.25tn For Maturities
- BBTN – Fitch Affirms AAA(idn)
- BJBR – Fitch Affirms AA-(idn)
- DAAZ – IDR 500bn Sukuk Rated idA(sy)
- MDKA – Ratings Affirmed At idA+
- PTHK – Readies IDR 281.8bn Repayment
- WSKT – idB Affirmed, Outlook Negative
Regards, Aldiracita Research
