HIGHLIGHTS
- Yield of 10-year Indonesia Government Bonds is 6.702% on November 28, 2023, vs 6.735% the day before. While on November 28, the 10-year UST yield fell to 4.34%, from 4.39% the previous day.
- Government bonds volume was IDR47.87 trillion, and it was dominated by short term (< 5 years). It was fell than the previous day transaction of IDR50.83 trillion. The volume higher than its YTD average of IDR44.96 trillion. While the outright transaction reached IDR25.53 trilion increased from the previous day's transaction which amount to IDR15.93 trilion.
- Meanwhile, the total volume of corporate bonds was recorded at IDR2,720.69 billion, dominated by short term (< 5 years). The transaction volume was up compared to the previous day's volume of IDR2,419.93 billion. The volume higher compared to this year's average of IDR1,963.14 billion. Meanwhile, outright transaction recorded at IDR2,622.69 billion was up from the previous day's transaction of IDR2,407.38 billion.
- The Rupiah exchange rate against the US Dollar by 0.39% strengthened to IDR15,435 from IDR15,495 while the JCI increased 0.39% from 7,013 to 7,041. Then Brent declined from 81.89 to 80.16 USD per barrel, while WTI Cushing Crude Oil Spot price dropped from 76.75 to 74.86 USD per barrel.
GLOBAL UPDATES
- The average prices of single-family houses with mortgages guaranteed by Fannie Mae and Freddie Mac in the United States rose by 6.1% from a year earlier in September 2023, after an upwardly revised 5.8% advance in August. (Trading Economics)
- Federal Reserve Governor Christopher Waller said Tuesday he’s growing more confident that policy is in a place now to bring inflation back under control. There was nothing in Waller’s prepared remarks for a speech in Washington, D.C., that suggests he’s contemplating cutting interest rates, and he noted that inflation currently is still too high. But he pointed out a variety of areas where progress has made, suggesting the Fed at least won’t need to hike rates further from here. (CNBC)
DOMESTIC UPDATES
- The government has conducted an auction of Government Securities on November 28, 2023, showing a total incoming bid of IDR48.71 trillion, higher than the previous auction on November 14, 2023, of IDR33.68 trillion. The series that has the largest incoming bid is FR0101 with a yield range of 6.70% - 7.00%, the incoming bid reached IDR 22.92 trillion and was followed by FR0100 and FR0098 which attracted bids of IDR 9.85 trillion and IDR 4.82 trillion, respectively. with a yield range of 6.72% - 7.00% for the FR0100 series and the FR0098 series has a yield range of 6.87% - 7.20%. As for the nominal won in this auction amounted to IDR19.15 trillion, higher than the target of IDR19 trillion and higher than the previous auction of IDR19 trillion. Thus, the bid-to-cover ratio of this auction is 2.54x.
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