HIGHLIGHTS
- Yield of 10-year Indonesia Government Bonds is 7.059% on April 23, 2024, vs 7.059% the day before.
- Government bonds volume was IDR48.13 trillion, and it was dominated by medium term (5-15 years). It was advanced than the previous day transaction of IDR24.87 trillion. The volume higher than its YTD average of IDR44.83 trillion. While the outright transaction reached IDR11.86 trilion advanced from the previous day's transaction which amount to IDR9.47 trilion.
- Meanwhile, the total volume of corporate bonds was recorded at IDR2,639.29 billion, dominated by short term (< 5 years). The transaction volume increased compared to the previous day's volume of IDR1,260.34 billion. The volume higher compared to this year's average of IDR1,982.85 billion. Meanwhile, outright transaction recorded at IDR2,511.29 billion increased from the previous day's transaction of IDR1,185.34 billion.
- The Rupiah exchange rate against the US Dollar strengthened by 0.09% to IDR16,220 from IDR16,235 while the JCI increased 0.52% from 7,074 to 7,111. Then Brent declined from 88.03 to 87.49 USD per barrel, while WTI Cushing Crude Oil Spot price dropped from 83.14 to 82.85 USD per barrel.
GLOBAL UPDATES
- Preliminary April PMI numbers in Advanced Economies (AE) indicate a notable expansion in the service sectors, while the manufacturing sector continues to contract. In the US, Service sectors expanded slightly with PMI of 50.9 (vs. 51.7). Howefer, manufacturing slipped to contraction for the first time in 4 months with PMI of 49.9 (vs 51.9). Japan Services PMI rose to 54.6 (vs. 54.1), while the Manufacturing PMI remained in contraction territory at 49.9. Eurozone Services PMI saw a significant increase to 52.9 (vs. 51.5), supporting overall economic expansion, while Manufacturing PMI deteriorated to 45.6 (vs. 46.1). In the UK, Services PMI reached a high of 54.9 (vs. 53.1), marking an 11-month high, while the Manufacturing industry declined to 48.7 from a one-time expansion seen in March. (S&P Global)
DOMESTIC UPDATES
- The results of the Sharia Securities Auction on April 23 showed total bids of Rp16.27 trillion, lower than the previous auction on March 19, 2024, which was Rp21.07 trillion. The series with the highest bids was SPNS20012025 with a yield range of 6.50% - 6.90%, attracting bids totaling Rp4.69 trillion, followed by PBS032 and SPNS22102024, which attracted bids of Rp3.54 trillion and Rp2.07 trillion respectively. PBS032 had a yield range of 6.74% - 7.12%, while SPNS22102024 had a yield range of 6.50% - 6.65%. Thus, the winning nominal in this auction was Rp5.08 trillion, lower than the government's target of Rp11 trillion and lower than the previous auction of Rp12 trillion. Therefore, the bid-to-cover ratio for this auction was 3.21x. ( DJPPR)
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