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INDON Sov Spreads Tighten, Consumer Confidence Falls

INDONESIA

Indonesian sov yields pushed higher following moves made in the US on Friday after a surprise NFP beat.

  • The INDON curve has widen today, yields are 5 10bps higher. The 2Y yield is +9.5bps at 5.335%, 5Y yield is +8bps at 5.08%, the 10Y yield is 8bp at 5.147%, while the 5-year CDS is 0.5bp lower at 71.5bps.
  • The INDON to UST spread diff the 2Y is now 44.5bps (-5bps), 5yr is 60bps (-10bps), while the 10yr is 70bps (-8bps).
  • In cross-asset moves, USD/IDR is 0.61% lower today at 16,292. The JCI is 0.35% higher . While tsys futures have edged lower throughout the day, with yields about 1bps higher.
  • Earlier Indonesian consumer confidence for May fell to 125.2 from 127.7 in April.
  • Looking ahead, there is little on the data calendar, with a bond auction on Tuesday the major focus.
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