HIGHLIGHTS
- The yield on 10-year Indonesian Government Bonds rose to 6.444% on September 9, 2025, compared with 6.389% in the previous session. Meanwhile, UST 10yr yield rose by 3 bps to 4.08% yesterday.
- Government bond trading volume stood at IDR64.60 trillion, with activity concentrated in medium-term maturities (5–15 years). This marked an increase from the previous day’s IDR47.03 trillion and was above the year-to-date (YTD) average of IDR50.09 trillion. Outright transactions reached IDR43.90 trillion, up from IDR29.05 trillion in the prior session.
- Corporate bond trading volume totaled IDR2.40 trillion, dominated by short-term maturities (< 5 years). This was higher than the previous day’s IDR1.35 trillion but remained below the YTD average of IDR3.32 trillion. Outright transactions amounted to IDR2.40 trillion, also rising from IDR1.35 trillion the day before.
- On the macro side, the Rupiah depreciated by 1.05% to IDR16,475 per US Dollar from IDR16,304. The Jakarta Composite Index (JCI) fell 1.78% to 7,629 from 7,767. In commodities, Brent crude advanced to USD66.36 per barrel from USD65.10, while WTI Cushing crude rose to USD62.26 per barrel from USD61.87.
DOMESTIC UPDATES
- The government bond auction on September 9, 2025 received total bids of IDR79.55 trillion, down from IDR126.02 trillion in the previous auction (August 26, 2025), reflecting weaker investor appetite amid rising U.S. Treasury yields and cautious sentiment over monetary policy outlook. FR0109 drew the largest demand of IDR27.59 trillion (yield 5.80%–6.10%), followed by FR0108 at IDR24.46 trillion (6.40%–6.70%) and FR0106 at IDR8.95 trillion (6.69%–7.03%). The government awarded IDR24.45 trillion, below its indicative target of IDR27 trillion, resulting in a bid-to-cover ratio of 3.25x. (MoF)
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