- Positive momentum continues as bond yields fell on global trends, driven by rate cut expectations and more dovish policy shifts.
- Rapid yield declines risk reversal as inflation pressures and lesser easing prospects may widen Fed-market gap, increasing volatility ahead.
- 2Q25 GDP beat expectations, but mixed indicators persist, we expect several factors to signal stronger growth momentum in 2H.
HIGHLIGHTS
- The Positive Momentum Continued
- What’s Next?
- Mixed Domestic Trend Signals
- Capital Market – Narrowing Yield Differential
- Upcoming SUN Auction
- SUN Auction Recap
This Week Key Focus
- Indonesia Retail Sales – June 2025 (Monday)
- United States Inflation – July 2025 (Tuesday)
- China Retail Sales - July 2025 (Friday)
Last week Key Events
DOMESTIC UPDATES
- Indonesia’s GDP rose 5.12% y-y (4.04% q-q) in 2Q25
- Indonesia’s foreign reserves declined slightly to USD152bn in Jul-25
- BI’s July 2025 Consumer Survey showed improved confidence
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