HIGHLIGHTS
- The yield on the 10-year Indonesian Government Bond increased to 6.815% on May 5, 2026, from 6.800% in the previous session. Meanwhile, the UST 10-year yield declined by 2 bps to 4.43% yesterday.
- Government bond trading volume reached IDR63.64 trillion, predominantly in short-term tenors (<5 years). This marked an increase from the prior day’s transaction of IDR55.37 trillion and remained above the year-to-date (YtD) average of IDR49.43 trillion. Outright transactions amounted to IDR30.92 trillion, rising from IDR23.05 trillion recorded in the previous session.
- Meanwhile, total corporate bond trading volume stood at IDR8,233 billion, also dominated by short-term tenors (<5 years). This represented a decline from the previous day’s volume of IDR11,560 billion, although it remained above the YtD average of IDR3,313 billion. Outright transactions were recorded at IDR8,233 billion, decreasing from IDR9,224 billion in the prior session.
- In the currency market, the Indonesian Rupiah depreciated by 0.26% against the US Dollar to IDR17,425 from IDR17,380. The Jakarta Composite Index (JCI) rose by 1.22%, increasing from 6,972 to 7,057. In the commodities market, Brent crude oil prices declined from USD114.44 to USD112.97 per barrel, while WTI Cushing crude oil spot prices fell from USD106.42 to USD104.18 per barrel.
DOMESTIC UPDATES
- The auction of Indonesia’s Sharia Government Securities (SBSN) on May 5, 2026 recorded total incoming bids of IDR 21.20 trillion, lower than the previous auction on April 21, 2026, which reached IDR 33.55 trillion. Series PBS038 attracted the highest demand, with bids amounting to IDR 4.27 trillion at a yield range of 6.75%–6.90%. This was followed by SPNS03022027, which recorded bids of IDR 4.21 trillion at yields of 6.05%–6.25%, and SPNS01062026 with IDR 2.82 trillion at a yield range of 5.50%–5.70%. In this auction, the government awarded a total of IDR 12 trillion, in line with the indicative target, with a bid-to-cover ratio of 1.77x. (MoF)
- Indonesia’s GDP grew 5.61% YoY in 1Q26, accelerating from 5.39% in Q4 and exceeding expectations, driven by strong household consumption and government spending. Private consumption rose 5.52%, supported by seasonal demand (Lebaran and Lunar New Year), while government spending surged 21.81%. Investment remained solid at 5.96%. Exports slowed to 0.9% amid global disruptions, while imports rose 7.18% on firm domestic demand. Sectoral growth was led by accommodation and food services (13.14%), while manufacturing growth eased. (Statistics Indonesia)
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