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INDON Sovs Little Changed Ahead Of US Data, Foreign Investors Buy Bonds

INDONESIA
Data BulletEM BulletDataHomepagemarkets-real-timeBulletEmerging Market News

It has been a very quiet session for global rates the INDON curve is little changed today with yields flat to 2bps higher, as the market awaits US PPI later today and CPI on Wednesday. BI released a report early stating they expect retail sales to grow in April, while car sales in April fell by 17.5% y/y.

  • The INDON curve is steady today, there was some slightly weakness in the belly off the curve with the 5-7yr yields 1-2bps higher, while further are the curve we trade unchanged, the 2Y yield is 0.5bps higher at 5.25%, 5Y yield is 1.5bp higher at 5.18%, the 10Y yield is unchanged at 5.265%, while the 5-year CDS is 1bp lower at 70.5bps.
  • The INDON to UST spread diff the 2Y is now 40bps (+2.5bp), 5yr is 68bps (+2.5bps), while the 10yr is 78bps (+1bp).
  • In cross-asset moves, USD/IDR is up 0.31% at 16,130, the JCI is down 0.23% Palm Oil is 0.13% higher, while US tsys yield are flat to 1bps lower
  • As foreign investors continue to sell Indonesian equities, they have been buying Indonesian debt with data showing over the first three days of the past week investors purchased $364m of Indonesian bonds while selling of $186m of equity.
  • (BBG) SURVEY REPORT: Indonesia Economic Forecasts in Q2 2024 - (See link)
  • Looking ahead; Trade Balance on Wednesday
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It has been a very quiet session for global rates the INDON curve is little changed today with yields flat to 2bps higher, as the market awaits US PPI later today and CPI on Wednesday. BI released a report early stating they expect retail sales to grow in April, while car sales in April fell by 17.5% y/y.

  • The INDON curve is steady today, there was some slightly weakness in the belly off the curve with the 5-7yr yields 1-2bps higher, while further are the curve we trade unchanged, the 2Y yield is 0.5bps higher at 5.25%, 5Y yield is 1.5bp higher at 5.18%, the 10Y yield is unchanged at 5.265%, while the 5-year CDS is 1bp lower at 70.5bps.
  • The INDON to UST spread diff the 2Y is now 40bps (+2.5bp), 5yr is 68bps (+2.5bps), while the 10yr is 78bps (+1bp).
  • In cross-asset moves, USD/IDR is up 0.31% at 16,130, the JCI is down 0.23% Palm Oil is 0.13% higher, while US tsys yield are flat to 1bps lower
  • As foreign investors continue to sell Indonesian equities, they have been buying Indonesian debt with data showing over the first three days of the past week investors purchased $364m of Indonesian bonds while selling of $186m of equity.
  • (BBG) SURVEY REPORT: Indonesia Economic Forecasts in Q2 2024 - (See link)
  • Looking ahead; Trade Balance on Wednesday