Short-term Fund Needs, Government Wins Many PBS027
This actively traded sukuk with a tenor of less than 2-years was successfully won worth IDR 6.6 trillion, from the PBS027 entry offer of almost IDR 20 trillion.
Daily Report | 16 June 2021
Domestically, JCI seems to be continuing its consolidation phase with a limited range of movement. Market participants tend to wait for the results of the Fed’s and Bank Indonesia’s RDG which will be announced tomorrow. For today, the benchmark index is still likely to strengthen, limited to the level of movement at 6,051 – 6,134.
Early Week SUN Market Moved Stronger
The benchmark 10-year government bond yield fell to 6.35% yesterday. This movement is in the midst of waiting for the release of a number of domestic economic data, such as the trade balance and the BI Seven Days Reverse Repo Rate (BI 7-DRRR).
Daily Report | 15 June 2021
From the domestic market, although the JCI started the week with a decline; however, foreign investors still recorded a net purchase of IDR 337 billion. Meanwhile, the release of the trade balance for May is expected to remain in a surplus position. JCI movement today will tend to be limited to the range of 6,060 – 6,134.
US Inflation Sentiment Supports SUN Market
The price of Government Bonds (SUN) at the end of the week rose, in line with the decline in UST yield to the level of 1.45%.
Weekly Report | 14 June 2021
JCI’s movement rate this week will be influenced by some domestic factors. Market participants will pay close attention to the development of daily Covid-19 cases which is starting to show an uptrend after the Eid al-Fitr holiday. On the economic data side, trade balance position in May is projected to book a surplus at around USD 2.2 – 2.3 billion. Meanwhile, Bank Indonesia is also predicted to maintain the BI-7DRRR at 3.5%.
Daily Report | 14 June 2021
This week, JCI movement has the potential to be influenced by economic data such as the release of the Trade Balance and Bank Indonesia’s RDG results. Investors will also pay close attention to the developments in the number of Covid-19 cases, which is starting to show an increase in some areas. For today, the benchmark index is projected to strengthen limitedly with the range of movement at 6,064 – 6,226.
Daily Report | 11 June 2021
Domestically, JCI was still able to continue rally by closing above 6,100. Retail sales figures for April are reported to be up 17.3% m/m and 15.6% yoy; having previously contracted for the last 16 months. Towards the end of the week, JCI has the potential to be slightly restrained with a projected range of movement at 6,060-6,133.
Decrease in Cadev Drives Interest in SUN
Market participants are again interested in medium and long tenor Government Securities (SUN). FR0088 still recorded yield inversion with FR0087, amidst the high volatility of FR0087 compared to other benchmark series.
