HIGHLIGHTS
- The yield on Indonesia’s 10-year government bonds stood at 6.806% on February 19, 2025, slightly increasing from 6.767% the previous day. Meanwhile, the UST 10-yr yield fell to 4.53%, from 4.55% the previous day.
- The total volume of government bond transactions reached IDR44.50 trillion, primarily driven by medium-term bonds (5-15 years). This marks a decline from the previous day's transaction volume of IDR73.13 trillion and falls below the year-to-date (YTD) average of IDR48.58 trillion. Meanwhile, outright transactions totaled IDR25.89 trillion, down from IDR50.02 trillion the day before.
- The total volume of corporate bond transactions amounted to IDR1.036 trillion, with short-term bonds (<5 years) dominating the market. This reflects an increase from the previous day's volume of IDR835 billion but remains below the YTD average of IDR1.995 trillion. Outright transactions stood at IDR1.036 trillion, rising from IDR827 billion recorded the day before.
- The Indonesian Rupiah depreciated by 0.34% against the US Dollar, weakening to IDR16,330 from IDR16,275. The Jakarta Composite Index (JCI) declined by 1.14%, closing at 6,795 from 6,874. Meanwhile, Brent crude oil prices rose from USD75.27 to USD75.89 per barrel, and WTI Cushing crude oil prices increased from USD70.74 to USD71.85 per barrel.
GLOBAL UPDATES
- The annual inflation rate in the UK accelerated sharply to 3% in January 2025, the highest since March 2024, from 2.5% in the previous month and above forecasts of 2.8%. (Trading Economics)
DOMESTIC UPDATES
- BI kept the BI Rate at 5.75%, in line with consensus but diverging from our rate cut expectation. Despite the emergence of several factors supporting easing measures, including an accelerated rate cut. BI opted to maintain its rate, citing persistently high global uncertainty and once again prioritizing stability. (Bank Indonesia)
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