Rupiah Firms After Release Of Above-Forecast GDP Report Monday

Spot USD/IDR trades -30 figs at IDR15,678 as we type, with bears looking for a fall through Oct 28 low of IDR15,523 and bulls keeping an eye on the IDR16,000 mark. USD/IDR 1-month NDF last seen -3 figs at IDR15,680, with bears targeting Oct 26 low of IDR15,490 and bulls taking aim at the IDR16,000 figure.

• Foreign investors were net buyers of $41.07mn in local equities. The Jakarta Comp posted gains but has already halved yesterday's gains this morning.
• Indonesia's CDS premium has tumbled since approaching cyclical highs in late-Sep/mid-Oct and last sits at 122.4bp.
• U.S./Indonesia 10-Year yield spread sits near the tightest levels this cycle. INDOGB 5-Year/10-Year spread is heavy again as flattening impetus returns.
• Indonesia's GDP grew 5.72% Y/Y in Q3, surpassing the median estimate of +5.60%, up from +5.45% in Q2, data released Monday showed.
• Indonesian consumer confidence gauges are expected to be published over the coming days.