HIGHLIGHTS
- The 10-year Indonesia Government Bond (INDOGB) yield declined to 6.433% on 11 February 2026, from 6.450% in the previous session. Meanwhile, the 10-year UST yield rose by 2 bps to 4.18% yesterday.
- Government bond trading volume rose to IDR65.23 trillion, primarily driven by short-term tenors (<5 years). The volume increased from IDR46.50 trillion in the prior session and stood above the YtD average of IDR49.43 trillion. However, outright transactions fell to IDR19.17 trillion, compared to IDR33.35 trillion previously.
- In the corporate bond market, total trading volume reached IDR3.30 trillion, dominated by short-term tenors (<5 years). The volume increased from IDR2.77 trillion in the previous session but remained slightly below the YtD average of IDR3.31 trillion. Meanwhile, outright transactions edged higher to IDR3.30 trillion, up from IDR2.77 trillion.
- In the broader market, the Rupiah strengthened by 0.10% to IDR16,783 per USD, while the Jakarta Composite Index (JCI) advanced 1.96% to close at 8,291. In commodities, Brent crude oil was broadly stable at USD71.99 per barrel (from USD71.98), while WTI Cushing crude declined from USD64.36 to USD63.96 per barrel.
GLOBAL UPDATES
- US non-farm payrolls rose 130K in January 2026, beating expectations and rebounding from a revised 48K in December, while the unemployment rate edged down to 4.3% from 4.4%, signaling a stable labor market. Job gains were led by health care, social assistance, and construction, while federal government and financial sector jobs declined. Labor force participation improved to 62.5% and U-6 unemployment fell to 8.0%. However, 2025 job growth was sharply revised lower to an average 15K per month, signalling weaker underlying labor conditions. (U.S. BLS, Bloomberg)
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