NORGES: RATES PROBABLY AT CURRENT LEVEL QUITE SOME TIME

RATES MAY NEED TO BE ON HOLD LONGER THAN ENVISIONED: NORGES

MNI: NORGES BANK LEAVES RATES UNCHANGED AT 4.50%

MNI WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace

MNI China Daily Summary: Tuesday, April 30

MNI BRIEF: China To Keep Tackling Risks In Real Estate, Debts

MNI: BAKER HUGHES US RIG COUNT 605; OIL RIGS 499; GAS RIGS 102

BoE Data Watch

RBA Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

INDON Sov Curve Steepens, GDP Forecast Higher

INDONESIA
Data BulletEM BulletDataHomepagemarkets-real-timeBulletEmerging Market News

The Indonesian sov curve has bear-steepened today with yields 3-6bps higher. Government forecasts GDP growth at 5.17% in 1Q, higher than 5.04% a year ago and the budget will remain in surplus, Finance Minister Sri Mulyani Indrawati said today.

  • The INDON sov curve is flatter today, the 2Y yield is 3.5bp higher at 5.33%, 5Y yield is 4.5bps higher at 5.385%, the 10Y yield is 4.5bps higher at 5.50%, while the 5-year CDS is down 1bps at 79bps.
  • The INDON to UST spread diff has widen in the front-end overnight as the treasury curve bear-steepened, the 2Y is now 354bps (-1bps), 5yr is 67.5bps (+1.5bps), while the 10yr is 81bps (+1bps)
  • In cross-asset moves, the USD/IDR is up 0.23% at 16,225, the JCI is 0.55% lower, Palm Oil is unchanged, while US Tsys yields are 0.5-1bps lower
  • Foreign Investors continue to offload Indonesian debt with selling momentum picking up in the short-term the past 8 trading days have seen a total of $868m of outflows, with the 5-day average is now -$100m, vs the 20-day average at -$66m, while the 100 & 200-day averages are about -$8m.
  • Looking forward, S&P Global Indonesia PMI Mfg and CPI on Thursday
197 words

To read the full story

Close

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.

The Indonesian sov curve has bear-steepened today with yields 3-6bps higher. Government forecasts GDP growth at 5.17% in 1Q, higher than 5.04% a year ago and the budget will remain in surplus, Finance Minister Sri Mulyani Indrawati said today.

  • The INDON sov curve is flatter today, the 2Y yield is 3.5bp higher at 5.33%, 5Y yield is 4.5bps higher at 5.385%, the 10Y yield is 4.5bps higher at 5.50%, while the 5-year CDS is down 1bps at 79bps.
  • The INDON to UST spread diff has widen in the front-end overnight as the treasury curve bear-steepened, the 2Y is now 354bps (-1bps), 5yr is 67.5bps (+1.5bps), while the 10yr is 81bps (+1bps)
  • In cross-asset moves, the USD/IDR is up 0.23% at 16,225, the JCI is 0.55% lower, Palm Oil is unchanged, while US Tsys yields are 0.5-1bps lower
  • Foreign Investors continue to offload Indonesian debt with selling momentum picking up in the short-term the past 8 trading days have seen a total of $868m of outflows, with the 5-day average is now -$100m, vs the 20-day average at -$66m, while the 100 & 200-day averages are about -$8m.
  • Looking forward, S&P Global Indonesia PMI Mfg and CPI on Thursday