HIGHLIGHTS

  1. Yield of 10-year Indonesia Government Bonds is 6.667% on January 04, 2024, vs 6.661% the day before. Meanwhile at the same time UST the 10-yr yield rose to 3.99%, from 3,91% the day before.
  2. Government bonds volume was IDR58.03 trillion, and it was dominated by short term (< 5 years). It was fell than the previous day transaction of IDR64.42 trillion. The volume higher than its YTD average of IDR44.83 trillion. While the outright transaction reached IDR11.84 trilion fell from the previous day's transaction which amount to IDR21.37 trilion.
  3. Meanwhile, the total volume of corporate bonds was recorded at IDR3,078.36 billion, dominated by short term (< 5 years). The transaction volume dropped compared to the previous day's volume of IDR3,658.42 billion. The volume higher compared to this year's average of IDR1,982.85 billion. Meanwhile, outright transaction recorded at IDR3,078.36 billion declined from the previous day's transaction of IDR3,655.42 billion.
  4. The Rupiah exchange rate against the US Dollar weakened by 0.06% to IDR15,490 from IDR15,480 while the JCI advanced 1.11% from 7,279 to 7,360. Then Brent increased from 75.83 to 77.13 USD per barrel, while WTI Cushing Crude Oil Spot price advanced from 70.38 to 72.70 USD per barrel.

GLOBAL UPDATES

  1. In 2024, China plans to augment its fiscal expenditure, as articulated by Finance Minister Lan Fo'an. The budget deficit will be carefully managed to maintain a specified level, with the central government persisting in establishing an appropriate quota for the issuance of new special local government bonds. Beijing intends to sustain the transfer of funds to local governments, with a preference for regions characterized by lower economic affluence. (Bloomberg)

DOMESTIC UPDATES

  1. Gov't set the import quota of refined sugar ingredients to 3.45mn ton, down from 3.61mn ton in 2023. The ingredients will then be processed by 11 government-appointed factories to produce refined sugar. Current domestic demand of refined sugar stands at 250k-280k ton per month where it could increase to 300k ton during Ramadhan. (Kontan).

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