HIGHLIGHTS
- On November 14, 2024, the yield on 10-year Indonesia Government Bonds increased to 6.959%, up from 6.923% the previous day. Meanwhile UST 10yr yield slipped by 1bps to 4.43% yesterday.
- The volume of government bond transactions totaled IDR 38.33 trillion, primarily concentrated in medium-term bonds (5-15 years). This was higher than the previous day's transaction volume of IDR 31.78 trillion, but still below the year-to-date average of IDR 45.66 trillion. Outright transactions amounted to IDR 16.78 trillion, a decrease from the prior day's IDR 18.60 trillion.
- In the corporate bond market, total transaction volume was IDR 1,694 billion, with a focus on short-term bonds (maturity < 5 years). This was a significant drop from the previous day's volume of IDR 4,452 billion and also below the year-to-date average of IDR 1,902 billion. Outright corporate bond transactions totaled IDR 1,660 billion, down from IDR 4,452 billion on the previous day.
- Meanwhile, the Indonesian Rupiah depreciated by 0.51% against the US Dollar, weakening to IDR 15,855 from IDR 15,775. The Jakarta Composite Index (JCI) fell by 1.29%, dropping from 7,309 to 7,215. In commodity markets, Brent crude oil prices increased from USD 72.92 to USD 73.54 per barrel, while WTI Cushing crude oil prices rose from USD 68.12 to USD 68.43 per barrel.
GLOBAL UPDATES
- International Energy Agency (IEA) estimates that global oil market face a surplus of more than 1mn bpd in 2025 due to softening Chinese demand. China oil consumption has contracted for six straight months through September. Next year, global oil consumption will increase by 990k bpd, higher than this year's 920k bpd. However, supplies from producers is set to grow by 1.5mn bpd in 2024 and 2025. (Bloomberg)
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