Daily Report | 20 June 2022
Quadruple Witching Ignores Fundamentals. Wall Street closed mixed, with May’s US Industrial Production data significantly lower (Act. 0.2% Vs. Apr. 1.4%).
The SUN Market Responded To The Fed’s Commitment
The SUN market responded to the Fed’s commitment, all benchmark government securities recorded a decline in yields yesterday. Earlier, June’s FFR hike was 75 bps, or above the consensus of 50 bps.
Daily Report | 17 June 2022
2H22 Consensus Profit Projection Too High. Inflation and high interest rates, as well as the appreciation of the USD, made a number of analysts revise their 3Q22 and 4Q22 corporate profit projections.
Positive Sentiment Trade Balance Surplus
Positive Sentiment Trade Balance Surplus. The benchmark SUN recorded a slight increase in yield between 0.1 bps-5.4 bps.
Daily Report | 16 June 2022
FFR increase in June +75 Bps (Vs. Cons. +50 Bps), the Fed’s aggressive action dampens May high inflation at consumer CPI level (1.0% MoM; 8.6% YoY); as well as producers PPI (0.8% MoM; 10.8% YoY).
Government Wins IDR 5.1 Trillion Sukuk Auction
DJPPR data shows that yesterday’s bid for the Sukuk auction was worth IDR 15.1 trillion, or lower than the previous Sukuk auction of IDR 20.21 trillion.
Daily Report | 15 June 2022
Producer inflation continued to pick up, completing the figures to May’s high CPI consumer inflation (1.0% MoM; 8.6% YoY).
Inverted Yield Pattern
SUN market was under pressure at the beginning of the week, as the depreciation of the rupiah approached the psychological level of IDR 14,700/USD.
Weekly Report | 13 Jun 2022
The Fed’s hawkish stance ineffective, and inflation still high.
