HIGHLIGHTS
- Yield of 10-year Indonesia Government Bonds is 6.935% on May 21, 2024, vs 6.935% the day before. Meanwhile, the 10-year U.S. Treasury yield fell to 4.41%, from 4.44% the previous day.
- Government bonds volume was IDR32.57 trillion, and it was dominated by short term (< 5 years). It was dropped than the previous day transaction of IDR64.43 trillion. The volume lower than its YTD average of IDR44.83 trillion. While the outright transaction reached IDR11.75 trilion dropped from the previous day's transaction which amount to IDR12.46 trilion.
- Meanwhile, the total volume of corporate bonds was recorded at IDR1,276.16 billion, dominated by short term (< 5 years). The transaction volume increased compared to the previous day's volume of IDR1,045.45 billion. The volume lower compared to this year's average of IDR1,982.85 billion. Meanwhile, outright transaction recorded at IDR1,396.16 billion increased from the previous day's transaction of IDR516.57 billion.
- The Rupiah exchange rate against the US Dollar weakened by 0.13% to IDR15,995 from IDR15,975 while the JCI declined -1.11% from 7,267 to 7,186. Then Brent advanced from 82.14 to 82.42 USD per barrel, while WTI Cushing Crude Oil Spot price fell from 80.06 to 79.80 USD per barrel.
DOMESTIC UPDATES
- Bank Indonesia (BI) will announce BI Rate today at 2.00 pm. We expect BI to leave the rate unchanged following a strengthening IDR due to easing external risks. Domestic inflation also eased in April as key commodity prices cools with increasing supply. From the monetary tools, we still see BI is maintaining a contractionary stance, making a rate change unnecessary at this point. (Economic Research - BRIDS)
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