The SUN Market Strengthened
The SUN market strengthened, amid the potentially sloping October inflation rate, or projected at only 0.09% MoM, in line with the normalization of prices for a number of food commodities.
Daily Report | 31 October 2022
Big Tech. Stocks pushed the Nasdaq up by 300 points. The share price of Google’s parent company, Alphabet, followed by Apple and Microsoft, experienced a Technical Rebound after the investors responded negatively to the performance of 3Q22 Earning Results before.
October’s Inflation Rate Is Sloping
October’s inflation rate is sloping. Based on a Bloomberg Survey, Indonesia’s headline inflation rate for the October period is projected to be only 0.09% MoM. In addition to the normalization of a number of food commodity prices, NHKSI Research sees the impact of a significant increase in subsidized fuel prices of up to 30%, which has been reflected in the September inflation rate.
Daily Report | 28 October 2022
The Strong Dollar put pressure on the 4Q22 GDP. The U.S. economy re-expanded with Annualized 3Q22 GDP QoQ grow +2.6% (Vs. contractions of -0.6% 2Q22 and -1.6% 1Q22), driven by export growth.
Risk-On Investors in SUN
Risk-On Investors in SUN. All SUN Benchmarks posted lower yields, with FR91 dropping 3bps to 7.61%. Risk-On selective investors in the bond market, as yield on GIDR10Y touched an attractive level of 7.65% or 355Bps higher than UST10Y which was at 4.10%.
Daily Report | 27 October 2022
Several Big Cap. Tech performances were depressed, Nasdaq weakened by 2%. Google’s parent company, Alphabet, reported a slowdown in revenue growth as competition tightened on digital advertising.
Investors Are Watching The US Manufacturing Data
Investors are watching the US Manufacturing data. All SUN Benchmarks recorded an increase in yield yesterday. US S&P Global data shows Mfg. PMI Oct. started contracting or was at the level of 49.9 (Vs. Sept. 52), indicating the Fed has succeeded in slowing down domestic business activity.
Daily Report | 26 October 2022
Big Cap. Tech Stocks Earning Results, significantly moved the market, or Nasdaq gained more than 2%. Stocks on Wall Street traded higher amid the declining interest in the Safe Haven USD as the consumer confidence index weakened.
SUN Benchmarks Were Mixed Earlier in The Week
SUN Benchmarks were mixed earlier in the week. Yesterday, investors were waiting for Eurozone and US manufacturing data, amid the risk of a global economic recession in 2023. Furthermore, this week’s market sentiment is dominated by the release of external economic data.
