HIGHLIGHTS
- Yield of 10-year Indonesia Government Bonds is 7.011% on July 24, 2024, vs 7.002% the day before. Meanwhile yield UST 10-yr rose to 4.28%, from 4.25% the day before.
- Government bonds volume was IDR36.47 trillion, and it was dominated by short term (< 5 years). It was fell than the previous day transaction of IDR50.37 trillion. The volume lower than its YTD average of IDR44.83 trillion. While the outright transaction reached IDR13.61 trilion fell from the previous day's transaction which amount to IDR27.56 trilion.
- Meanwhile, the total volume of corporate bonds was recorded at IDR1,252 billion, dominated by short term (< 5 years). The transaction volume declined compared to the previous day's volume of IDR5,041 billion. The volume lower compared to this year's average of IDR1,983 billion. Meanwhile, outright transaction recorded at IDR1,252 billion dropped from the previous day's transaction of IDR5,031 billion.
- The Rupiah exchange rate against the US Dollar weakened by 0.03% to IDR16,215 from IDR16,210 while the JCI declined -0.70% from 7,314 to 7,263. Then Brent fell from 83.02 to 82.09 USD per barrel, while WTI Cushing Crude Oil Spot price fell from 79.78 to 78.20 USD per barrel.
GLOBAL UPDATES
- Bank of Canada cut its key policy rate by 25bps to 4.5%, extending the 25bps cut from the June meeting. BoC was the first of G-7 countries to cut its policy rate. BoC noted that excess supply has helped slowing inflation and see that lower interest rate can help bring down inflation by lowering mortgage and shelter cost. (Trading Economics)
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