HIGHLIGHTS
- As of July 19, 2024, the 10-year US Treasury yield increased by 7 basis points (bps) compared to the previous week, reaching 4.25%, up from 4.18% on July 12, 2024. Similarly, the 2-year US Treasury yield rose by 4 bps to 4.49%. Conversely, the 10-year Indonesian Government Bond (INDOGB) yield declined to 6.94% on July 19, 2024, down from 6.97% on July 16, 2024, and 6.94% on July 12, 2024.
- During the same period, the dollar index appreciated by 0.25% from the previous week, while the Indonesian Rupiah weakened by 0.32%, closing at IDR 16,190 per US dollar on July 19, 2024. Additionally, Indonesia's 5-year Credit Default Swap (CDS) increased by 6 bps week-on-week, reaching 77 bps on July 19, 2024.
- Government bonds volume was IDR28.50 trillion, and it was dominated by short term (< 5 years). It was dropped than the previous day transaction of IDR41.11 trillion. The volume lower than its YTD average of IDR44.83 trillion. While the outright transaction reached IDR15.48 trilion dropped from the previous day's transaction which amount to IDR17.19 trilion.
- Meanwhile, the total volume of corporate bonds was recorded at IDR3,635 billion, dominated by short term (< 5 years). The transaction volume advanced compared to the previous day's volume of IDR2,293 billion. The volume higher compared to this year's average of IDR1,983 billion. Meanwhile, outright transaction recorded at IDR3,635 billion advanced from the previous day's transaction of IDR2,280 billion.
- The JCI fell -0.36% from 7,321 to 7,294. Then Brent advanced from 86.20 to 86.47 USD per barrel, while WTI Cushing Crude Oil Spot price declined from 82.85 to 82.82 USD per barrel.
GLOBAL UPDATES
- President Joe Biden dropped out of the 2024 race for the White House on Sunday, after escalating pressure from Biden’s Democratic allies to step aside following the June 27 debate. Biden endorsed Vice President Kamala Harris to take on Trump. (CNBC)
DOMESTIC UPDATES
- Ministry of Trade raised the ceiling price of Minyakita to IDR15,700/liter from IDR14,000, following a strong USD. On national average, Minyakita was sold at USD16,234/liter in retail. (Bisnis)
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