HIGHLIGHTS

  1. The yield on the 10-year Indonesia Government Bond edged up to 6.245% on 15 January 2026, from 6.239% in the previous session. Meanwhile, the 10-year U.S. Treasury yield rose by 7 bps to 4.24% on 16 January 2026.
  2. Total government bond trading volume declined sharply to IDR 26.39 trillion, dominated by short-term tenors (<5 years). This was significantly lower than the previous day’s volume of IDR 55.15 trillion and remained below the year-to-date (YTD) average of IDR 49.43 trillion. Outright transactions fell to IDR 23.52 trillion from IDR 32.06 trillion in the prior session.
  3. Total corporate bond trading volume decreased to IDR 1.97 trillion, primarily driven by short-term tenors (<5 years). This was down from IDR 2.05 trillion in the previous session and remained below the YTD average of IDR 3.31 trillion. Outright transactions also declined to IDR 1.97 trillion from IDR 2.05 trillion in the prior session.
  4. The rupiah depreciated by 0.15% against the US dollar to IDR 16,885 from IDR 16,860. Meanwhile, the Jakarta Composite Index (JCI) rose by 0.47%, advancing from 9,033 to 9,075. In the commodities market, Brent crude oil prices increased slightly to USD 68.68 per barrel from USD 68.39, while WTI Cushing crude oil prices advanced to USD 62.02 per barrel from USD 61.15.

GLOBAL UPDATES

  1. The US 10-year Treasury yield climbed to around 4.23%, the highest level in more than four months, amid renewed uncertainty over Federal Reserve leadership and shifting policy expectations. Political noise surrounding the Fed’s independence lifted term premia, while resilient US economic data, strong industrial output and steady retail spending, reinforced higher-for-longer rate views. Markets now look to upcoming PCE inflation and GDP releases for clarity, with firm data likely to keep long-end yields elevated.(Trading Economics)

DOMESTIC UPDATES

  1. Foreign direct investment into Indonesia rebounded in Q4 2025, rising 4.3% y/y to a record IDR 256.3 trillion after contracting in the prior quarter. Despite global uncertainty and domestic protests, inflows stabilized, leaving full-year FDI marginally higher at IDR 900.9 trillion. Base metals and mining dominated investment, supported by downstream policies. Singapore, Hong Kong, and China remained key sources, while the government aims to boost inflows via its Danantara sovereign wealth fund.(Trading Economics)

 

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