DAILY OUTLOOK
The 10Y SUN yield eased 0.7bps to 7.158% while the 10Y UST edged up 0.88bps to 5.250%, leaving the SUN–UST spread at 190.9bps. JISDOR weakened to IDR 17,937/USD from IDR 17,877/USD as the global bond selloff pushed the UK 30Y gilt yield past 6%, before haven demand amid France’s fiscal woes pulled Treasury yields off their highs. We expect the 10Y SUN to trade within 7.10%–7.22% today, with no series currently screening Cheap on our valuation.
NEWS HIGHLIGHTS
- Global – Fed’s Logan Sees More Hikes Needed
- Global – Paramount Debt Slump Angers Bond Investors
- Global – Tokyo CPI Accelerates Above BOJ Target
- Global – Treasuries Rally On Haven Demand
- Global – UK 30Y Gilt Yield Tops 6%
- Global – US Weighs Extra Carrier, 10,000 Troops
- Bond – PLN Repays IDR 455bn Bond, Sukuk
- BSWD – Gets First-Time A+(idn) Fitch Rating
Regards, Aldiracita Research
