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INDON Sov Curve Twist-Flattens, Spread Continue to Widen

INDONESIA

The INDON sov curve has continued it twist-flattening move, again seeing better buying at the 7yr. Spreads continue to widen as US treasuries yields move 10-30bps lower across the curve.

  • The INDON curve has again twist-flattened today, yields are 2-6bps lower, the 2Y yield is -2bps at 5.245%, 5Y yield is -3.5bps at 5.04%, the 10Y yield is -4bps at 5.125%, while the 5-year CDS is 1bps higher at 72.5bps.
  • The INDON to UST spread diff the 2Y is now 47bps (+2bp), 5yr is 69bps (+3bps), while the 10yr is 78.5bps (+2.5bps). the INDON curve has widen 10-15bp to the UST curve over the past week.
  • In cross-asset moves, USD/IDR is nearing ytd highs after trading up 0.35% today to 16,275/80, the JCI has managed to get back above 7,000 however has been unable really tests the 200-day EMA, while US tsys yields are 0.5-1bps higher..
  • Looking ahead, it is a quiet week with just Foreign Reserves for May on Friday.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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