Category: Market Info

Inflation Update – December 2023

– Inflation in December 2023 was recorded at 2.61% y-y / 0.41% m-m, inline with our estimates of 2.56% (Cons: 2.82%). Core inflation follows a continued disinflation trend, reaching a 23-month low at 1.80% y-y. The main contributor to the annual inflation remained unchanged in December. – Volatile Food inflation eased to 6.73% y-y/1.42% m-m, […]

What to Expect in 2024

FY24 Outlook: The road to JCI 8,000 JCI’s 13x PE implies room for a rerating if growth improves, while Indonesia’s resilient economic growth offers downside protection. Despite our 5% FY24 EPS growth forecast, we see support from more social aid, better liquidity and the next govt’s growth policies. We retain our FY24-end JCI target of […]

Daily Commentary (14-Mar): INDOGB Yield Fell Slightly Ahead of Tuesday’s Auction; Consensus Expects Trade Surplus Continued in February

[08:49, 3/15/2022] Inge mansek: The JCI and INDOGB went up slightly ahead of Tuesday’s bond auction, while the rupiah fell against the USD. The JCI rose 0.4% to a record close of 6,952.2 (+0.9% MTD or +5.6% YTD), and foreign investors reported net inflow of Rp1.1tn (net outflow of Rp5tn MTD or net inflow of […]

BNIS Fixed Income Daily Notes (15/3/22)

Analisa Perdagangan Obligasi (Senin, 14/3) Harga obligasi berdenominasi Rupiah bergerak variatif pada rentang yang terbatas di awal pekan ini. Yield SUN Benchmark 5-tahun (FR0090) berada di level 5,54%, sementara untuk yield SUN Benchmark 10-tahun (FR0091) tercatat di level 6,70%. Sedangkan untuk SBN berdenominasi USD, yield INDON-26 tercatat di level 2,87%(+2bps) sementara yield INDON-31 dan INDON-51 […]

BNIS Fixed Income Market Closing Commentary (8/3/22) :

Tren pelemahan harga obligasi berdenominasi Rupiah masih berlanjut pada perdagangan hari ini. Harga SUN seri acuan mengalami pelemahan hingga 120 bps, sementara yield SUN bertenor 10 tahun (FR0091) naik 10 bp level 6,85%. Volume transaksi SBN secara outright tercatat sebesar IDR21,2 triliun hari ini, lebih tinggi dari volume transaksi kemarin yang sebesar IDR17,8 triliun. Closing […]

Daily Bond Market Commentary (7-Mar): Inline with Global, Rupiah Asset Class Fell due to Risk-Off Sentiment from Russia-Ukraine War; Lower Sukuk Auction Target

In line with global, the rupiah asset class closed lower on Monday as the market was still worried about the Russia-Ukraine war. The JCI fell by 0.9% and closed at 6,869.1 (-0.3% MTD or +4.4% YTD), with solid trading volume at Rp20.6tn (vs. Rp13.6tn average daily trading YTD). Foreign investors reported a slight net outflow […]

Sucor AM News Update 08/03/22

Dow Jones 32,817.38 (-2.37%) S&P500 4,201.09 (-2.95%) NASDAQ 12,830.96 (-3.62%) Nikkei 25,221.41 (-2.94%) HangSeng 21,057.63 (-3.87%) JCI 6,869.07 (-0.86%)  Gold 2,003.2/ounce (+0.53%) WTI US$ 120.94/barel (-4.79%) USD/IDR 14.408 US Market Perdagangan di Bursa AS kemarin (07/03) ditutup terkoreksi setelah semakin banyak perusahaan yang melakukan cut-off hubungan dengan Rusia. Dow Jones -2.37%, S&P500 -2.95%, Nasdaq -3.62%. […]

BNIS Fixed Income Market Closing Commentary (2/3/22)

Harga obligasi berdenominasi Rupiah ditutup melemah pada perdagangan hari ini. Harga SUN seri acuan mengalami penurunan hingga 70 bps, sementara yield SUN bertenor 10 tahun (FR0091) naik 10 bp ke level 6,61%. Volume transaksi SBN secara outright tercatat sebesar IDR16,4 triliun hari ini, lebih rendah dari volume transaksi kemarin yang sebesar IDR19,8 triliun. Closing Price […]

Daily Commentary (1-Mar): Government (Again) Issued Bonds Less than Initial Target; Deflation in February as Expected

Total incoming bids in Tuesday’s bond auction remained solid, reaching Rp61.5tn (vs. Rp76.8tn bids in the previous auction and Rp23tn initial target), despite rising geopolitics volatility. It was also in line with our incoming bid forecasts of Rp59tn-69tn. As we expected, escalating geopolitics in Ukraine and worries over hawkish Fed might have decelerated foreign investors’ […]

Daily Commentary (17-Feb): Mixed INDOGB, with Longer Tenors Up; 2021 Current Account Balance Expects Surplus

On Wednesday, INDOGB was mixed, while the JCI and rupiah against USD fell after two days of sharp increase. The JCI fell 0.2% to 6,835.1 (+3.1% MTD or +3.9% YTD), but foreign investors kept reporting net inflow, reaching Rp649.6bn (inflow of Rp12.3tn MTD or +Rp18.4tn YTD). Asian equity indices also closed mixed as investors continued […]