DAILY OUTLOOK
The 10Y SUN yield eased 0.4bps to 7.211% while the 10Y UST edged up 0.4bps to 5.241%, leaving the SUN–UST spread at 197.1bps. JISDOR weakened to IDR 17,998/USD from IDR 17,965/USD as the 30Y UST yield hit its highest since 2002, while the SUN auction awarded IDR 28.8tn, below the IDR 30tn indicative target. We expect the 10Y SUN to trade within 7.15%–7.27% today, with no series currently screening Cheap on our valuation.
NEWS HIGHLIGHTS
- Global – Oil Falls On Saudi Pipeline Flows
- Global – Treasury Short Bets Raise Squeeze Risk
- Global – US Consumer Confidence Hits 2014 Low
- Global – UST 30Y Yield Hits 2002 High
- APBN – SBN 2027 Yield Assumed At 6.9%
- Bond – SUN Auction Awards IDR 28.8tn
- DNRK – Readies Repayment Of IDR 520bn Bond
- PNMP – Repays IDR 635bn Maturing Sukuk
- PTPP – May Delay IDR 44.7bn Coupon Payments
- WSKT – Upgraded To idB By Pefindo
Regards, Aldiracita Research
