DAILY OUTLOOK
The 10Y SUN yield rose 2.5bps to 7.209% on Friday, while the 10Y UST held at 5.238%, widening the SUN-UST spread to 197.1bps. The IDR firmed slightly, with JISDOR fixed at IDR 17,884/USD. Brent above USD 105/barrel after renewed Houthi strikes on Riyadh and tanker attacks keeps inflation risk alive, while lower SRBI rates point to ample liquidity ahead of Tuesday’s IDR 30tn SUN auction. We expect the SUN10Y to trade within 7.15%-7.25% today. FR0090 is the only Cheap series in the engine, but it is too short for duration positioning.
NEWS HIGHLIGHTS
- Global – IMF Meetings Weigh War, Record Debt
- Global – Oil Climbs On Riyadh, Tanker Attacks
- BI – Absorbs IDR 30tn As Yields Ease
- Bond – Q4 Plan Sets 12 SBN Auctions
- Credit – Capital Floors To Pressure Insurers
- ASDF – Issues IDR 3.58tn Bonds Through 3Q26
- BIIF – idAAA Ratings Affirmed, Outlook Stable
- MDLN – Settles USD 280mn Notes With Land
- SMFP – Offers IDR 3.09tn Bonds, Sukuk
- TBIG – Offers IDR 2.37tn Bond, Sukuk
Regards, Aldiracita Research
