HIGHLIGHTS
- The yield on the 10-year Indonesian Government Bond stood at 6.890% on April 29, 2025, slightly lower than 6.908% recorded the previous day. Meanwhile, UST 10yr yield declined by 4bps to 4.19%, yesterday.
- Total trading volume of government bonds reached IDR 48.04 trillion, with transactions dominated by short-term tenors (less than 5 years). This represented a decline from IDR 62.03 trillion the day before and was slightly below the year-to-date (YTD) average of IDR 48.50 trillion. Outright transactions amounted to IDR 25.48 trillion, down from IDR 27.29 trillion in the previous session.
- The total volume of corporate bond transactions stood at IDR 3.35 trillion, also dominated by short-term instruments (< 5 years). This marked a decrease from the previous day's IDR 4.42 trillion, though it remained above the YTD average of IDR 2.88 trillion. Outright transactions declined to IDR 3.30 trillion, from IDR 4.42 trillion previously.
- The Rupiah appreciated by 0.55% against the US Dollar, strengthening to IDR 16,762 from IDR 16,855. Meanwhile, the Jakarta Composite Index (JCI) rose by 0.39%, from 6,723 to 6,749. In the commodities market, Brent crude oil price declined from USD 67.49 to USD 65.85 per barrel, while WTI Cushing Crude Oil Spot fell from USD 63.95 to USD 62.05 per barrel.
GLOBAL UPDATES
- US consumer confidence fell to 86 in Apr-25, a nearly five-year low, as tariff concerns dampened economic and job outlooks. Job openings dropped to 7.19 million, the lowest since 2020, as employers paused hiring amid policy uncertainty, raising recession risks. (Bloomberg)
DOMESTIC UPDATES
- The Government Sharia Securities (SBSN) auction on April 29, 2025, recorded total incoming bids of IDR 32.68 trillion, lower than the IDR 36.13 trillion in the previous auction on April 15. PBS030 attracted the highest interest with IDR 9.44 trillion in bids and a yield range of 6.45%–6.66%, followed by PBS003 and SPNS12012026 with bids of IDR 9.21 trillion and IDR 5.66 trillion, respectively. Their yield ranges were 6.37%–6.57% for PBS003 and 6.20%–6.30% for SPNS12012026. The government successfully raised IDR 12 trillion, exceeding the IDR 10 trillion target, resulting in a bid-to-cover ratio of 3.01x. (DJPPR)
- Indonesia’s Investment Ministry (BKPM) reported Q1-2025 investment realization at IDR465.2tn, or 24.4% of the 2025 target (IDR1,905.6tn). This marks a 15.9% increase from Q4-2024 and 2.7% y-y. Foreign investment contributed IDR230.4tn (49.3%), while domestic investment reached IDR234.8tn (50.5%). Investment in Java totaled IDR229.3tn (49.3%) and outside Java IDR235.9tn (50.7%). The projects created 594,104 jobs, up 8.5% y-y. (CNBC Indonesia)
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