February 21, 2025 05:57 GMT
INDONESIA: Country Wrap: Students Rally Against Budget Cuts.
INDONESIA
- Indonesia's middle class, once the backbone of the country's economic growth, is showing signs of strain, leaving many businesses and policymakers concerned about the future, a report by Financial Times revealed.
- Major cities in Indonesia saw student rallied today to protest against proposed budget revamp as part of the Presidents spending cuts. Cuts included in the review were part of his presidential compaign. (source: BBG).
- Following two days of declines, the Jakarta Composite is holding on to modest gains Friday, up +0.16%.
- IDR: the rupiah has had a positive day, gaininig +.22% to be at 16,302 though still weaker for the last five trading days.
- BONDS: a decent rally for bonds today with yields up to -2.5bp lower. Intermediates were strongest wit the 5YR 6.52% (-2.5bp) and the 10YR 6.76% (-2bp)
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