DAILY OUTLOOK
Indonesian government bonds weakened on Thursday as the global rout deepened, with the ICBI down 0.21%, while JISDOR depreciated 95 points to IDR 17,898/USD. The US 10-year Treasury stood at 5.186%, near its highest since 2007, leaving the SUN-UST spread at 191.1bps with the 10-year SUN at 7.097%. We expect the 10-year SUN at 7.10%-7.22% today, with upside risk from oil and Fed hike bets. With no series screening Cheap, we prefer short-to-medium tenors until global yields stabilise.
NEWS HIGHLIGHTS
- Global – Bond Losses Deepen On Hike Bets
- Global – JGB Yields Hit 1996 Highs
- Global – Treasury 30-Year Yield Hits 2004 High
- Global – US, Iran Weigh Phased Hormuz Deal
- Bond – Kemenkeu Revises Sukuk Auction Rules
- BDMN – Fitch Affirms BBB, Negative Outlook
- BRIS – Fitch Affirms BBB-, Stable Outlook
- NISP – Fitch Affirms BBB, Negative Outlook
Regards, Aldiracita Research
