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Indonesian Sov Curve Slightly Steeper, IDR Hovers Near 4 year Low

INDONESIA
Data BulletEM BulletDataHomepagemarkets-real-timeBulletEmerging Market News

Indonesian USD sovereign debt curve is largely unchanged today, yields are flat to 1bp higher. There has been very little in the way of market headlines or eco data out in the region. Indonesian Equities and Bonds continue to see foreign investors sell, as investors grow wary of the expansive spending expected by President Elect Prabowo. The IDR is just off recent lows however with outflows continuing the past few days in both bonds and equities further weakness may be in sight.

  • The INDON sov curve is a touch steeper on Thursday, the 2Y yield is down 1bp to 4.97%, 5Y yield is unchanged at 4.95%, the 10Y yield is unchanged at 5.095%, while the 5-year CDS is also unchanged at 75.5bps
  • The INDON to UST spread is a touch wider, as US yields were lower on Wednesday, the 2yr is 30bps (+2bps), 5yr is 61bps (+1bp), while the 10yr is 73.5bps (-1bps).
  • In cross-asset moves, the USD/IDR is 0.11% lower, the JCI is 0.95% higher, Palm Oil is 0.43% lower, while US Tsys curves are largely unchanged for the day with yields flat to 2bps higher.
  • Looking ahead: March Foreign Reserves are due out on Friday
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Indonesian USD sovereign debt curve is largely unchanged today, yields are flat to 1bp higher. There has been very little in the way of market headlines or eco data out in the region. Indonesian Equities and Bonds continue to see foreign investors sell, as investors grow wary of the expansive spending expected by President Elect Prabowo. The IDR is just off recent lows however with outflows continuing the past few days in both bonds and equities further weakness may be in sight.

  • The INDON sov curve is a touch steeper on Thursday, the 2Y yield is down 1bp to 4.97%, 5Y yield is unchanged at 4.95%, the 10Y yield is unchanged at 5.095%, while the 5-year CDS is also unchanged at 75.5bps
  • The INDON to UST spread is a touch wider, as US yields were lower on Wednesday, the 2yr is 30bps (+2bps), 5yr is 61bps (+1bp), while the 10yr is 73.5bps (-1bps).
  • In cross-asset moves, the USD/IDR is 0.11% lower, the JCI is 0.95% higher, Palm Oil is 0.43% lower, while US Tsys curves are largely unchanged for the day with yields flat to 2bps higher.
  • Looking ahead: March Foreign Reserves are due out on Friday