HIGHLIGHTS
- Yield of 10-year Indonesia Government Bonds is 6.536% on July 28, 2025, vs 6.523% the day before. Meanwhile, UST 10yr yield rose by 2 bps to 4.42% yesterday.
- Government bonds volume was IDR54.36 trillion, and it was dominated by short term (< 5 years). It was increased than the previous day transaction of IDR34.36 trillion. The volume higher than its YTD average of IDR49.83 trillion. While the outright transaction reached IDR28.57 trilion was up from the previous day's transaction which amount to IDR18.82 trilion.
- Meanwhile, the total volume of corporate bonds was recorded at IDR19,742 billion, dominated by short term (< 5 years). The transaction volume advanced compared to the previous day's volume of IDR2,084 billion. The volume higher compared to this year's average of IDR3,370 billion. Meanwhile, outright transaction recorded at IDR3,393 billion advanced from the previous day's transaction of IDR2,082 billion.
- The Rupiah exchange rate against the US Dollar weakened by 0.17% to IDR16,342 from IDR16,315 while the JCI was up 0.94% from 7,544 to 7,615. Then Brent dropped from 70.70 to 69.40 USD per barrel, while WTI Cushing Crude Oil Spot price declined from 67.23 to 66.11 USD per barrel.
DOMESTIC UPDATES
- The Government of the Republic of Indonesia is scheduled to hold a Government Securities (SUN) auction on Tuesday, July 29, 2025, as part of its strategy to support the financing of the 2025 State Budget (APBN). The series to be offered in this auction include: SPN12251030 (reopening), SPN12260730 (new issuance), FR0104 (reopening), FR0108 (new issuance), and FR0102, FR0105, FR0106, and FR0107 (reopenings). The Government has set an indicative issuance target of IDR27 trillion for this auction. BRI Danareksa Sekuritas projects that total incoming bids for the upcoming auction may range between IDR 85 trillion and IDR 95 trillion, with an expected bid-to-cover ratio between 3.15x and 3.52x. (Sources: MoF, BRIDS Estimated)
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