DAILY OUTLOOK
SUN 10Y yield rose 2.5bps to 7.213% yesterday, while UST 10Y climbed 1.9bps to 5.299% as Fed officials Schmid and Daly kept further hikes on the table. The SUN-UST 10Y spread widened to 191.4bps, while SUN 5Y held flat at 7.070%. JISDOR firmed slightly to IDR 17,910/USD and Indonesia’s 5Y CDS eased 0.6bps to 92.6bps. Oil remains a key risk as Hormuz attacks rise and inventories run thin. We expect SUN 10Y to trade within 7.18%-7.26% today. Only the ultra-short FR0090 screens Cheap, so we stay selective and prefer Fair 5-10Y series over long tenors.
NEWS HIGHLIGHTS
- Global – Fed Officials Keep Hike Door Open
- Global – Hormuz Attacks Rise As Inventories Thin
- Bond – Multifinance Issuance Seen Rising In 4Q26
- Bond – Sukuk Auction Raises IDR 10tn
- BMTP – Affirmed At idAAA, Outlook Stable
- COKE – Assigned idAA For IDR 2tn Bond
- IATA – Repays IDR 199bn Bond, Sukuk
- LPPI – Repays IDR 1.48tn Bond
- PTPP – Cut To idCCC On Coupon Miss
- SOFN – idAAA Affirmed After OTO Merger
Regards, Aldiracita Research
