HIGHLIGHTS
- Yield of 10-year Indonesia Government Bonds is 6.633% on August 27, 2024, vs 6.621% the day before.
- Government bonds volume was IDR42.70 trillion, and it was dominated by short term (< 5 years). It was declined than the previous day transaction of IDR53.56 trillion. The volume lower than its YTD average of IDR44.83 trillion. While the outright transaction reached IDR18.36 trilion was up from the previous day's transaction which amount to IDR15.13 trilion.
- Meanwhile, the total volume of corporate bonds was recorded at IDR1,707 billion, dominated by short term (< 5 years). The transaction volume increased compared to the previous day's volume of IDR1,022 billion. The volume lower compared to this year's average of IDR1,983 billion. Meanwhile, outright transaction recorded at IDR1,693 billion was up from the previous day's transaction of IDR1,015 billion.
- The Rupiah exchange rate against the US Dollar weakened by 0.42% to IDR15,495 from IDR15,430 while the JCI dropped -0.11% from 7,606 to 7,598. Then Brent stabilized from 81.05 to 81.05 USD per barrel, while WTI Cushing Crude Oil Spot price increased from 75.84 to 77.42 USD per barrel.
GLOBAL UPDATES
- China’s industrial profit rose 3.6% y-y in 7M23. However, The domestic-focused firm’s profit fell. In a monthly basis, Jul’s profit rose to 4.1%, higher than the previous month of 3.6%. (Trading Economics)
DOMESTIC UPDATES
- The results of the State Sharia Securities (SBSN) auction on August 27, 2024 recorded a total incoming bid of IDR 23.89 trillion, marking an increase from the previous auction on August 13, 2024, which totaled IDR 17.97 trillion. The series with the highest bid was PBS032, with a yield range of 6.54% to 6.67%, attracting bids amounting to IDR 5.84 trillion. This was followed by PBS030 and PBS038, which garnered bids of IDR 4.69 trillion and IDR 4.22 trillion, respectively. The yield range for PBS030 was between 6.51% and 6.70%, while PBS038 had a yield range of 6.93% to 7.06%. The total nominal amount awarded in this auction was IDR 8 trillion, matching the government's target of IDR 8 trillion, resulting in a bid-to-cover ratio of 2.98x. (DJPPR)
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