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INDON Sov Continues Twist-Flattening Move, 7yr 30bps Tighter Past Week

INDONESIA
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

The INDON sov curve has continued it twist-flattening move, again seeing better buying at the 7yr. There hasn't much in the way of data out of the region today, earlier it was reported that Bank Indonesia was seen in the FX market managing USD supply.

  • The INDON curve has again twist-flattened today, yields are 2-5bps lower, the 2Y yield is -1bps at 5.245%, 5Y yield is -3bps at 5.015%, the 10Y yield is -4bps at 5.085%, while the 5-year CDS is 1bps lower at 72bps.
  • The 7yr is 30bps tighter over the week, outperforming nearby tenors by about 5bps.
  • The INDON to UST spread diff the 2Y is now 51bps (+3bp), 5yr is 70bps (+1bps), while the 10yr is 79bps (+0.5bps). The INDON curve has widened 12-17bp vs UST curve over the past week.
  • In cross-asset moves, USD/IDR is little changed today, the JCI is also unchanged today after earlier trading 1% higher and breaking back above 7,000, while tsys futures are edged lower through the day, yields are 1-2bps higher.
  • Looking ahead, it is a quiet week with just Foreign Reserves for May on Friday.
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The INDON sov curve has continued it twist-flattening move, again seeing better buying at the 7yr. There hasn't much in the way of data out of the region today, earlier it was reported that Bank Indonesia was seen in the FX market managing USD supply.

  • The INDON curve has again twist-flattened today, yields are 2-5bps lower, the 2Y yield is -1bps at 5.245%, 5Y yield is -3bps at 5.015%, the 10Y yield is -4bps at 5.085%, while the 5-year CDS is 1bps lower at 72bps.
  • The 7yr is 30bps tighter over the week, outperforming nearby tenors by about 5bps.
  • The INDON to UST spread diff the 2Y is now 51bps (+3bp), 5yr is 70bps (+1bps), while the 10yr is 79bps (+0.5bps). The INDON curve has widened 12-17bp vs UST curve over the past week.
  • In cross-asset moves, USD/IDR is little changed today, the JCI is also unchanged today after earlier trading 1% higher and breaking back above 7,000, while tsys futures are edged lower through the day, yields are 1-2bps higher.
  • Looking ahead, it is a quiet week with just Foreign Reserves for May on Friday.