HIGHLIGHTS
- The yield on the 10-year Indonesian Government Bond stood at 6.913% on April 28, 2025, slightly down from 6.923% the previous day. Meanwhile, UST 10yr yield fell by 6bps to 4.23% yesterday.
- The total volume of government bond transactions amounted to IDR 62.03 trillion, with a predominance of medium-term bonds (5–15 years). This marked an increase compared to the previous day’s volume of IDR 34.10 trillion and was higher than the year-to-date (YTD) average of IDR 48.51 trillion. The outright transaction reached IDR 27.29 trillion, up from IDR 15.29 trillion the day before.
- Corporate bond trading volume totaled IDR 4.42 trillion, mainly concentrated in short-term bonds (< 5 years). This represented an increase from the previous day's volume of IDR 3.71 trillion, surpassing this year's average of IDR 2.87 trillion. Outright transactions amounted to IDR 4.42 trillion, higher than the prior day’s IDR 3.57 trillion.
- The Rupiah depreciated by 0.15% against the US Dollar, closing at IDR 16,855, compared to IDR 16,830 the previous day. Meanwhile, the Jakarta Composite Index (JCI) rose by 0.66%, from 6,679 to 6,723. On the commodities front, Brent crude oil prices increased from USD 67.27 to USD 67.49 per barrel, while the WTI Cushing Crude Oil Spot price rose from USD 63.57 to USD 63.95 per barrel.
DOMESTIC UPDATE
- The Government of the Republic of Indonesia will hold an auction for Government Sharia Securities (SBSN) or State Sukuk on Tuesday, April 29, 2025. The instruments to be offered in this auction include the following series: SPNS13102025 (reopening), SPNS12012026 (reopening), PBS003 (reopening), PBS030 (reopening), PBS034 (reopening), PBS039 (reopening), and PBS038 (reopening). The Government has set an indicative target of IDR 10 trillion for this auction. BRI Danareksa Sekuritas projects that the total incoming bids for the upcoming auction may fall between IDR 20 trillion and IDR 30 trillion, with an anticipated bid-to-cover ratio ranging from 2.00 to 3.00. (Sources: DJPPR, BRIDS Estimated)
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