DAILY OUTLOOK
SUN 10Y yield eased 2.9bps to 7.184% yesterday, while the UST 10Y rose 1.3bps to 5.297% as Fed minutes showed most officials see another hike by year end. The SUN-UST spread narrowed 4.2bps to 188.7bps, and JISDOR was fixed at IDR 17,880/USD from IDR 17,910. With UK and French long-end selloffs and Brent near USD 100/barrel weighing on global duration, we expect SUN 10Y to trade within 7.15%-7.22% today. FR0094 is the only standing series screening Cheap, with the rest Fair, so we favour selective front-end exposure over long tenors for now.
NEWS HIGHLIGHTS
- Global – Fed Minutes Signal Another Hike
- Global – France Weighs Shift To Short-Term Debt
- Global – Oil Climbs On Iran Strike Threat
- Global – Sukuk Issuance Seen Extending Rebound
- Global – UK Gilt Yields Hit 28-Year High
- Bond – SBR015 Sales Reach IDR 3.19tn
- Credit – Pos Indonesia Misses Bond Interest Payment
- BBTN – Lists IDR 2tn Social Bond
- BJBR – Readies IDR 74bn Bond Repayment
- TOBA – idA Ratings Affirmed, Outlook Stable
Regards, Aldiracita Research
