DAILY OUTLOOK
Indonesia’s 10-year SUN yield eased 2.0bps to 7.159%, while the US 10-year Treasury climbed 2.1bps to 5.023%, narrowing the calculated SUN-UST spread to 213.6bps. JISDOR weakened 25 points to IDR 17,712/USD after the Fed raised rates by 25bps and signalled another increase this year. Oil remained above USD 100/bbl, keeping imported-inflation and rupiah risks elevated despite the modest local bond rally. The post-decision tone should therefore remain defensive, with offshore flow sensitivity likely to dominate intraday trading. We expect the 10-year SUN at 7.12%-7.22% today with a cautious bias. Prefer short-to-medium duration, particularly FR0094, while avoiding aggressive long-end positioning until global yields and energy prices stabilise.
NEWS HIGHLIGHTS
- Global – Antofagasta Retains BBB+ Rating
- Global – Extreme Shorts Face Fed Outcome
- Global – Fed Hikes, Trump Pushes Back
- Global – Saudi Pipeline Recovery Begins
- Global – Warsh Gains Inflation Credibility
- Domestic – Fitch Affirms INA at BBB
- Domestic – State Support Anchors INA Rating
- APBN – SR025 Sales Set Five-Year Record
- APBN – SBR015 and ST017 Launch Nears
- Bond/Credit – Fitch Cuts Pos to C(idn)
- Bond/Credit – Pegadaian Notes Earn AAA Rating
- Bond/Credit – Pefindo Cuts BJBS Rating
- ADHI – Bondholders Reject Restructuring Plan
- BBTN – Issues IDR 2tn Social Bond
- PTPP – Wins Debt Restructuring Approval
Regards, Aldiracita Research
