HIGHLIGHTS
- The yield on the 10-year Indonesia Government Bond edged lower to 6.361% on 27 January 2026, from 6.369% in the previous session. Meanwhile, the 10-year UST yield rose by 2 bps to 4.24% yesterday.
- Total government bond trading volume stood at IDR 51.09 trillion, dominated by medium-term tenors (5–15 years). This was slightly lower than the previous day’s volume of IDR 52.64 trillion, while remaining above the year-to-date (YTD) average of IDR 49.43 trillion. Outright transactions declined to IDR 27.11 trillion from IDR 36.13 trillion in the prior session.
- Meanwhile, total corporate bond trading volume increased to IDR 3.70 trillion, primarily driven by short-term tenors (<5 years). This was higher than the previous day’s volume of IDR 2.87 trillion and exceeded the YTD average of IDR 3.31 trillion. Outright transactions, however, fell sharply to IDR 1.26 trillion from IDR 2.80 trillion in the previous session.
- In other markets, the rupiah appreciated by 0.08% against the US dollar to IDR 16,766 from IDR 16,780, while the Jakarta Composite Index (JCI) edged up by 0.05%, rising from 8,975 to 8,980. In the commodities market, Brent crude oil prices eased to USD 67.66 per barrel from USD 68.08, while WTI Cushing crude oil prices declined to USD 60.63 per barrel from USD 61.24.
DOMESTIC UPDATES
- The Sovereign Sharia Securities (SBSN) auction held on 27 January 2026 recorded total incoming bids of IDR 38.59 trillion, lower than the previous auction on 13 January 2026, which attracted bids of IDR 55.26 trillion. The PBS030 series received the highest demand, with total bids reaching IDR 10.80 trillion and bid yields around 5.20%. This was followed by the SPNS12102026 and PBS038 series, which garnered bids of IDR 6.29 trillion and IDR 6.15 trillion, respectively. Bid yields for SPNS12102026 ranged between 4.75% - 5.05%, while PBS038 was offered within a yield range of 6.69% - 6.90%. The government awarded a total of IDR 12 trillion in this auction, exceeding the indicative target of IDR 11 trillion, resulting in a bid-to-cover ratio of 3.22x.(MoF)
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