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INDONESIA
Yields in Indonesia are higher across the curve today, the sell off extending after weak demand at auction yesterday.
- The auctions yesterday saw the government sell IDR 13.6tn against a target of IDR 30tn. The target was reduced last week from IDR 35tn. Concerned over the elevated cost of borrowing amid the global bond rout Indonesia floated the idea of tapping funds left over from last year to alleviate pressure on its sovereign debt market.
- According to the finance minister 10.8% of incoming bids for 2036 and 2051 debt combined were accepted, compared with 34.8% for the other tenors. Global funds took up 3.7% of all the debt sold, down sharply from 14.1% at the last sale two weeks ago.
- Fig. 1 - Indonesia Yield Curve Today vs Last Debt Sale
Source: MNI/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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