HIGHLIGHTS
- Yield of 10-year Indonesia Government Bonds is 6.978% on May 15, 2024, vs 7.029% the day before. Meanwhile, the 10-year U.S. Treasury yield decreased to 4.36%, from 4.45% the previous day.
- Government bonds volume was IDR63.24 trillion, and it was dominated by short term (< 5 years). It was declined than the previous day transaction of IDR69.81 trillion. The volume higher than its YTD average of IDR44.83 trillion. While the outright transaction reached IDR16.66 trilion declined from the previous day's transaction which amount to IDR37.74 trilion.
- Meanwhile, the total volume of corporate bonds was recorded at IDR1,477.77 billion, dominated by short term (< 5 years). The transaction volume declined compared to the previous day's volume of IDR2,618.48 billion. The volume lower compared to this year's average of IDR1,982.85 billion. Meanwhile, outright transaction recorded at IDR1,477.77 billion dropped from the previous day's transaction of IDR2,615.48 billion.
- The Rupiah exchange rate against the US Dollar strengthened by 0.47% to IDR16,028 from IDR16,104 while the JCI advanced 1.36% from 7,084 to 7,180. Then Brent dropped from 82.12 to 80.55 USD per barrel, while WTI Cushing Crude Oil Spot price dropped from 79.12 to 78.02 USD per barrel.
GLOBAL UPDATES
- US Inflation eased to 3.4% in April 2024 from 3.5% in March which was the highest reading since September, in line with market forecasts. Inflation steadied for food (2.2%) and slowed for shelter (5.5% vs 5.7%) while prices continued to decline for new vehicles (-0.4% vs -0.1%) and used cars and trucks (-6.9% vs -2.2%). On the other hand, energy costs rose slightly more (2.6% vs 2.1% in March), with gasoline increasing 1.1% (vs 1.3%). (Trading Economics)
DOMESTIC UPDATES
- Trade Balance in Apr-24 reached USD3.56bn down from March's USD4.6bn and Apr-23's USD3.9bn. Both export and import recorded a positive y-y growth in a month of shortened working days due to Idul Fitri. Cumulatively, the surplus has reached USD10.97bn y-t-d. Indonesia was able to maintain the trade surplus with main trading partner for 4M24, except for China (deficit of USD3.1bn vs 4M23's surplus of USD1.4bn). (BPS)
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