Global Market Update
- On June 27th, 2024, the yield on the US 10-year Government Bond closed at 4.2864%, marking a slight decrease of 4.3-bps compared to the previous day
- In May 2024, Japan’s unemployment rate held steady at 2.6%, in line with market expectations. This marks the fourth consecutive month without change and matches analysts’ predictions. The number of unemployed individuals decreased by 10 thousand to 1.82 million, while employment rose by 10 thousand to reach a three-month peak of 67.61 million
- In Q1-2024, the UK economy grew by 0.3% YoY, slightly up from the initial estimate of 0.2%, and recovering from a 0.2% decline in Q4-2023. The services sector expanded by 0.4%, surpassing the preliminary estimate
Sources: Bloomberg, Ministry of Internal Affairs & Communications – Japan, Office for National Statistics-UK, Trading Economics and Binaartha.
Domestic Market Update
- On June 28th , 2024, the yield curve for the 10-year Indonesia Government Bond closed at a level of 7.0623%, marking a slight decrease of 3-bps compared to yesterday
- On June 28th, 2024, PEFINDO issued an idA- rating for PT Adhi Karya (Persero) Tbk (ADHI)’s proposed Series IV bonds, totaling up to IDR 5 trillion. ADHI plans to utilize the funds for refinancing and enhancing working capital
- According to KSEI’s report, PT Mandiri Tunas Finance (MTF) will undertake a corporate action concerning its “OBLIGASI BERKELANJUTAN IV MANDIRI TUNAS FINANCE TAHAP II TAHUN 2019 SERI B“, which matures on July 26th, 2024, with an annual interest rate of 9.5%. MTF will distribute the 20th interest payment and repay the principal. The recording date is scheduled for July 22nd, 2024, and the payment date is July 26th, 2024.
Sources: PEFINDO, KSEI, PHEI, and Binaartha.Market Projection
We predict the 10-year Indonesia Government Yield Curve will continue to move within range 6.7375% – 7.4467% for next Monday. Recommendations: FR0102, FR0089, FR0062, FR093, and FR0088.