HIGHLIGHTS
- The yield on 10-year Indonesia Government Bonds stood at 6.427% on August 12, 2025, slightly lower than 6.436% recorded the previous day. Meanwhile, UST 10yr yield slightly up by 2bps to 4.29% yesterday.
- Government bond trading volume reached IDR62.09 trillion, dominated by short-term maturities (< 5 years). This marked a slight increase from IDR61.42 trillion in the previous session and remained above the year-to-date (YTD) average of IDR49.86 trillion. Outright transactions totaled IDR41.20 trillion, rising from IDR30.40 trillion in the prior session.
- Corporate bond trading volume amounted to IDR2.567 trillion, also dominated by short-term maturities (< 5 years). This represented an increase from IDR2.140 trillion in the previous session but remained below the YTD average of IDR3.366 trillion. Outright transactions stood at IDR2.567 trillion, up from IDR2.138 trillion recorded the day before.
- The Rupiah weakened by 0.09% against the US Dollar to IDR16,289 from IDR16,274, while the Jakarta Composite Index (JCI) rose 2.44% from 7,606 to 7,792. Brent crude oil prices increased from USD67.87 to USD68.04 per barrel, while WTI Cushing crude oil spot prices edged higher from USD63.88 to USD63.96 per barrel.
GLOBAL UPDATES
- US CPI rose 2.7% y-y in Jul-25 , unchanged from June and slightly below expectations, while core CPI accelerated to 3.1% y-y from 2.9%, marking its largest monthly gain since January at 0.3% m-m. Core inflation was driven by a rebound in airline fares (+4.0%) and higher healthcare, dental, household goods, footwear, and auto parts prices. Economists cautioned that upcoming tariff effects have yet to feed through, posing risks of renewed inflationary pressure. (Reuters)
DOMESTIC UPDATES
- At the Government Bond auction on August 12, 2025, total incoming bids reached Rp162.32 trillion, significantly higher than the Rp106.53 trillion recorded in the previous auction on July 29, 2025. The newly issued FR0109 series attracted the highest demand, securing Rp88.06 trillion in bids within an incoming yield range of 5.90%–6.20%. This was followed by the FR0108 series with Rp34.04 trillion in bids at yields ranging from 5.49%–6.85%, and the FR0106 series with Rp13.31 trillion in bids within a range of 6.76%–6.95%. The nominal value awarded in the auction amounted to Rp32 trillion, surpassing the government’s target of Rp27 trillion, and resulting in a bid-to-cover ratio of 5.07x. (MoF)
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