HIGHLIGHTS
- Indonesia Government Bond Yields : The yield on 10-year Indonesian government bonds stood at 6.970% on April 15, 2025, down from 7.029% the previous day. Meanwhile, the yield on the U.S. 10-year Treasury declined by 3 basis points to 4.35%.
- Government Bond Market Activity : Total government bond trading volume reached IDR47.57 trillion, with activity primarily concentrated in short-term tenors (<5 years). This marks an increase from the previous day’s volume of IDR28.86 trillion, although it remains slightly below the year-to-date (YTD) average of IDR48.35 trillion. Outright transactions rose significantly to IDR26.63 trillion, compared to IDR12.02 trillion on the previous day.
- Corporate Bond Transactions : Total corporate bond trading volume amounted to IDR4.42 trillion, also dominated by short-term instruments (<5 years). This represents an increase from the previous day’s volume of IDR2.77 trillion, and surpasses the YTD average of IDR2.74 trillion. Outright transactions were recorded at IDR4.39 trillion, up from IDR2.77 trillion the day before.
- Currency, Equity, and Commodity Markets : The Indonesian Rupiah weakened by 0.24%, closing at IDR16,815 per USD, compared to IDR16,775 previously. In contrast, the Jakarta Composite Index (JCI) rose by 1.15%, from 6,369 to 6,442. In the commodities market, Brent crude oil advanced from USD65.83 to USD66.81 per barrel, while WTI Cushing crude oil edged up from USD61.50 to USD61.53 per barrel.
DOMESTIC UPDATES
- The State Sharia Securities (SBSN) auction on April 15, 2025, recorded total bids of IDR36.13 trillion, significantly higher than the IDR21.69 trillion in the previous auction on March 11, 2025. PBS003 attracted the highest interest with IDR11.30 trillion in bids (yield: 6.75%–6.95%), followed by PBS030 and SPNS12012026 at IDR8.32 trillion (6.79%–6.95%) and IDR5.84 trillion (6.38%–6.58%), respectively. The government awarded IDR12 trillion, exceeding the target of IDR10 trillion, with a bid-to-cover ratio of 3.01x.(DJPPR)
- Consumer Confidence fell sharply to 121.1 in Mar-25 (from 126.4), the steepest monthly drop since the Sep-22 Pertalite hike and the worst Ramadhan decline since 2020. The 7-point fall in the Economic Expectation Index led the decline, with job availability seeing the largest hit. Current Income held steady at 121.3, though middle-income groups (IDR2–5mn) saw declines. Durable Goods Purchase dropped 3.5 pts to 110.2, and Job Availability fell to a three-year low at 100.3. On the income usage, Consumption rose to 75.3%, while the saving rate hit a record low of 13.8%, with loan installment usage rising to 10.8%. (Bank Indonesia)
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