May 07, 2024 05:20 GMT
INDON Sov Curve Slightly Steeper
INDONESIA
The Indonesian sov curve is slightly steeper today, with yields in the front 1bps lower, while the longer end is little changed. It has been a slow day in the region, with little in the local market headlines or economic data, while in the wider APAC region the RBA kept interest rates on hold at 4.35%.
- The INDON curve has seen better buying in the front-end today with the 2Y yield 2bps lower at 5.215%, 5Y yield is 0.5bps lower at 5.215%, the 10Y yield is 0.5bps lower at 5.27%, while the 5-year CDS is down 1bp at 70bps.
- The INDON to UST spread diff the 2Y is now 40bps (-2bp), 5yr is 74.5bps (+1.5bps), while the 10yr is 80bps (unchanged). Over the past month the belly of the INDON curve has underperformed, the 5yr was trading just 46bps wider early march.
- In cross-asset moves, the USD/IDR is down 0.19% at 16,054, the JCI is 0.10% lower, Palm Oil 1.55% higher, while US Tsys futures are 1-2bps lower.
- Looking ahead; Foreign Reserves on Wednesday.
174 words