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INDONESIA: Bond Wrap.

INDONESIA
  • The government is seeking a “good opportunity” in 4Q to issue dollar bonds for the 2025 budget prefunding amid declining interest rates (source: Investor Daily).
  • The BI will permanently discontinue the publication of JIBOR for all tenors and will use a transaction-based rupiah interest rate reference Indonesia Overnight Index Average, or INDONIA (source: Bank Indonesia).
  • S&P Global Indonesia PMI Manufacturing September 49.2 versus 48.9 prior.
  • Bond yields 1-3bps higher across the curve today.

 

2yr 6.328% (+0.5bp)        5yr 6.214% (+3bp)        10yr 6.457% (+0.5bp)         30yr 6.864% (+0.5bp)

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  • The government is seeking a “good opportunity” in 4Q to issue dollar bonds for the 2025 budget prefunding amid declining interest rates (source: Investor Daily).
  • The BI will permanently discontinue the publication of JIBOR for all tenors and will use a transaction-based rupiah interest rate reference Indonesia Overnight Index Average, or INDONIA (source: Bank Indonesia).
  • S&P Global Indonesia PMI Manufacturing September 49.2 versus 48.9 prior.
  • Bond yields 1-3bps higher across the curve today.

 

2yr 6.328% (+0.5bp)        5yr 6.214% (+3bp)        10yr 6.457% (+0.5bp)         30yr 6.864% (+0.5bp)