Global Market Update
- On October 9th, 2024, the US 10-Year Government Bond yield closed at 4.0726%, an increase of 6.07-bps compared to the previous close.
- U.S. annual inflation slowed to 2.4% in September 2024, the lowest since February 2021, but slightly above the 2.3% forecast. Shelter costs rose less, and energy prices fell further, driven by declines in gasoline and fuel oil, though natural gas prices rebounded.
- The People’s Bank of China (PBoC) launched a CNY 500 billion Securities, Funds, and Insurance Companies Swap Facility (SFISF) today to provide liquidity to eligible financial institutions. This facility allows firms to use bonds, ETFs, and CSI 300 Index stocks as collateral to support stock market purchases.
Sources: U.S. Bureau of Labor Statistics, The People’s Bank of China, Bloomberg, and Trading Economics.
Domestic Market Update
- On October 10th, 2024, the Indonesia Government Bond 10 Years Yield closed at 6.7362%, a slight decrease of 0.14-bps compared to Yesterday.
- PEFINDO has rated PT Bukit Asam Tbk (PTBA) idAA with a stable outlook, backed by strong support from its parent, PT Mineral Industri Indonesia (MIND ID). PTBA has a solid financial position but faces risks from business concentration and fluctuating commodity prices. The rating could be upgraded if PTBA’s role in MIND ID increases, or downgraded if MIND ID’s support decreases.
- Based on KSEI’s information, PT Pembangunan Jaya Ancol, Tbk (PJAA) will pay the 15th coupon of its OBLIGASI BERKELANJUTAN II JAYA ANCOL TAHAP II TAHUN 2021 SERI C (9.6%, p.a) on November 11th, 2024.
Sources: PEFINDO, KSEI, PHEI, and Bloomberg.
Market ProjectionWe predict the 10-year Indonesia Government Yield Curve will continue to move within range 6.6808% – 6.8158% for Tomorrow. Recommendations: FR0102, FR0089, FR0100, FR0062, FR0088, PBS038, PBS033, PBS005, ORI023T6, ORI024T6 and ORI025T3.