HIGHLIGHTS
- The yield on the 10-year Indonesian Government Bonds stood at 6.591% on July 14, 2025, rising from 6.577% in the previous session. Meanwhile, UST 10yr yield remained steady at 4.43% yesterday.
- The total volume of government bond transactions reached IDR46.28 trillion, primarily dominated by medium-term tenors (5–15 years). This marked an increase from the previous day's volume of IDR34.00 trillion, although it remained below the year-to-date (YTD) average of IDR49.88 trillion. Outright transactions amounted to IDR16.91 trillion, down from IDR19.78 trillion in the prior session.
- Corporate bond trading volume stood at IDR5.48 trillion, dominated by short-term tenors (< 5 years). This reflected an increase from IDR4.51 trillion in the previous session and exceeded the YTD average of IDR3.16 trillion. Outright transactions also rose to IDR5.48 trillion from IDR4.48 trillion recorded the day before.
- The Rupiah depreciated by 0.21% against the US Dollar, weakening to IDR16,245 from IDR16,211. Meanwhile, the Jakarta Composite Index (JCI) rose 0.71% from 7,047 to 7,097. In the commodity market, Brent crude increased from USD70.46 to USD72.44 per barrel, while WTI Cushing rose from USD66.57 to USD68.45 per barrel.
DOMESTIC UPDATES
- The Government of the Republic of Indonesia will hold a Government Bond (Surat Utang Negara/SUN) auction on Tuesday, July 15, 2025, as part of its effort to finance the 2025 State Budget (APBN). The series to be offered in this auction include SPN03251015 (New Issuance), SPN12260702, FR0104, FR0103, FR0106, FR0107, FR0102, and FR0105 (reopening). The indicative issuance target set by the government for this auction is IDR 27 trillion. BRI Danareksa Sekuritas projects that total incoming bids for the upcoming auction may range between IDR 80 trillion and IDR 90 trillion, with an expected bid-to-cover ratio between 2.96x and 3.33x. (Sources: MoF, BRIDS Estimated)
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