HIGHLIGHTS

  1. Yield of 10-year Indonesia Government Bonds is 6.933% on December 10, 2024, vs 6.927% the day before. Meanwhile, the UST 10-year yield rose to 4.22%, from 4.20% the previous day.
  2. Government bonds volume was IDR80.77 trillion, and it was dominated by medium term (5-15 years). It was advanced than the previous day transaction of IDR31.92 trillion. The volume higher than its YTD average of IDR45.36 trillion. While the outright transaction reached IDR37.70 trilion increased from the previous day's transaction which amount to IDR13.34 trilion.
  3. Meanwhile, the total volume of corporate bonds was recorded at IDR1,671 billion, dominated by short term (< 5 years). The transaction volume dropped compared to the previous day's volume of IDR3,262 billion. The volume lower compared to this year's average of IDR1,930 billion. Meanwhile, outright transaction recorded at IDR1,671 billion declined from the previous day's transaction of IDR3,255 billion.
  4. The Rupiah exchange rate against the US Dollar stable at IDR15,865 while the JCI increased 0.21% from 7,438 to 7,453. Then Brent increased from 72.63 to 73.67 USD per barrel, while WTI Cushing Crude Oil Spot price advanced from 67.20 to 68.37 USD per barrel.

GLOBAL UPDATES

  1. China export growth slowed to 6.7% y-y in Nov-24, lower than the estimate of 8.5% and October’s 12.7%. The import showed a contraction of 3.9%, the worst performance in 9 months. (Reuters)

DOMESTIC UPDATES

  1. The results of the Government Securities auction held on December 10, 2024, revealed a total incoming bid of IDR 38.98 trillion, surpassing the previous auction on November 26, 2024, which recorded IDR 29.11 trillion in bids. The FR0103 series garnered the highest demand, attracting incoming bids of IDR 16.31 trillion with a yield range of 6.98% - 7.19%. This was followed by the FR0104 and FR0098 series, which received bids of IDR 7.87 trillion and IDR 3.40 trillion, respectively. The FR0104 series offered a yield range of 6.82% - 7.05%, while the FR0098 series had a yield range of 7.03% - 7.20%. The government successfully allocated IDR 22 trillion in this auction, meeting its target. As a result, the bid-to-cover ratio stood at 1.77x. (DJPPR)
  2. Indonesia retail sales rose 1.5% in Oct-24, better than the first estimate of 1.0%. Retail sales in November was estimated to rise by 1.7% y-y. (Bank Indonesia)

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