HIGHLIGHTS
- The yield on 10-year Indonesia Government Bonds stood at 6.836% on February 12, 2025, marking a slight increase from the previous day's yield of 6.822%. Meanwhile, UST 10yr yield jumped by 8bps to 4.62% yesterday as higher US CPI.
- The volume of government bond transactions reached IDR 43.05 trillion, primarily driven by medium-term bonds (5-15 years), reflecting an increase from the previous day's IDR 39.15 trillion. However, the volume was below the year-to-date average of IDR 48.24 trillion. Notably, outright transactions amounted to IDR 25.31 trillion, surpassing the previous day's IDR 21.23 trillion.
- Corporate bond transactions totaled IDR 5.26 trillion, with a dominant share of short-term bonds (less than 5 years). This represented an increase compared to the previous day's volume of IDR 1.96 trillion and exceeded the year-to-date average of IDR 2.06 trillion. Outright corporate bond transactions also advanced, reaching IDR 5.26 trillion, up from IDR 1.96 trillion the day before.
- The Rupiah strengthened by 0.05% against the US Dollar, trading at IDR 16,367 compared to IDR 16,375 previously. The Jakarta Composite Index (JCI) rose by 1.74%, climbing from 6,532 to 6,646. Additionally, Brent crude oil increased from USD 76.04 to USD 77.03 per barrel, while the WTI Cushing Crude Oil Spot price rose from USD 72.32 to USD 73.32 per barrel.
GLOBAL UPDATES
- US CPI rose 0.5% m-m in Jan-25, the most since Aug-23 and rose 3.0% y-y, the most since Jun-24. Core CPI rose 0.4% m-m, as some suggested seasonal adjustment factors. The supercore CPI, which exclude shelter from the core CPI rose by almost 0.8% m-m. (Bloomberg)
DOMESTIC UPDATES
- Indonesia Retail Sales growth grew 0.4% y-y in Jan-25 , according to the initial estimate by Bank Indonesia. The retail sales growth in Dec-24 reached 1.8% y-y, upwardly revised from the initial estimate of 1.0%. Businesses expected price to increase sharply in the next three months, anticipating increasing demand during the holy month of Ramadan. (Bank Indonesia)
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