HIGHLIGHTS

  1. The yield on 10-year Indonesian Government Bonds rose to 7.141% on April 9, 2025, from 7.080% the previous day. Meanwhile, UST 10yr yield rose by 8bps to 4.34% yesterday.
  2. Government bond trading volume stood at IDR43.35 trillion, predominantly in the medium-term segment (5–15 years). This marked a decline from the previous day's volume of IDR78.07 trillion and was also below the year-to-date (YTD) average of IDR49.41 trillion. Outright transactions amounted to IDR23.87 trillion, down from IDR29.45 trillion recorded the day before.
  3. Corporate bond trading volume reached IDR6.01 trillion, primarily in short-term tenors (< 5 years). This represented a decrease from the previous day's volume of IDR7.01 trillion, but remained above the YTD average of IDR2.67 trillion. Outright transactions were recorded at IDR6.01 trillion, lower than the previous day's IDR6.88 trillion.
  4. The Indonesian Rupiah was stable against the US Dollar at IDR16,865, showing no change from the previous day. Meanwhile, the Jakarta Composite Index (JCI) declined by 0.47% to close at 5,968, compared to 5,996 previously. In the commodity market, Brent crude oil dropped to USD66.15 per barrel from USD66.66, while WTI Cushing crude fell to USD59.58 per barrel from USD60.70.

GLOBAL UPDATES

  1. US higher reciprocal tariffs went into effect yesterday, including 104% tariffs on Chinese goods. China retaliated with 84% tariffs on US goods. The EU has alsoapproved retaliatory tariffs on approximately EUR21 billion (USD23.2 billion) worth of US goods. However, just hours after levies against roughly 60 of America's trading partners kicked in, Trump said he was authorising a universal "lowered reciprocal tariff of 10%" as negotiations continue and announced a 90-day pause for countries hit by higher US tariffs, but a trade war with China escalated. At the same time he increased tariffs on goods from China to 125%, accusing Beijing of a "lack of respect" after it had retaliated by saying it would impose tariffs of 84% on US imports. (Bloomberg, BBC)

 

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