Global Market Update
Sources: Bureau of Economic Analysis (BEA), Ministry of Finance - Japan, Trading Economics, and Bloomberg.
Domestic Market Update
Sources: PEFINDO and PHEI.
Market Projection
We predict the 10-year Indonesia Government Yield Curve will continue to move within range 6.9358% - 7.0759% for Today. Recommendations: FR0102, FR0089, FR0105, FR0100, FR0062, PBS038, PBS033, PBS005, ORI023T6, ORI025T6 and ORI025T3.
- On December 5th, 2024, the U.S. 10 Years Yield closed at 4.1761%.
- The US trade deficit narrowed to $73.8 billion in October 2024 from $83.8 billion in September, beating forecasts of $75 billion. Exports fell 1.6% to $265.7 billion, mainly due to lower sales of industrial goods and vehicles but rose for services like travel and tech. Imports dropped 4% to $339.6 billion, with declines in computers, vehicles, oil, and pharmaceuticals.
- Japan’s foreign reserves rose by $49 million to $1.24 trillion in November 2024. They include $1.08 trillion in foreign currency, $72.11 billion in gold, $57.57 billion in SDRs, $10.28 billion with the IMF, and $15.26 billion in other assets. In July, the finance ministry spent 5.53 trillion yen on forex interventions to support the yen.
Sources: Bureau of Economic Analysis (BEA), Ministry of Finance - Japan, Trading Economics, and Bloomberg.
Domestic Market Update
- On December 5th, 2024, the Indonesia Government Bond 10 Years Yield closed at 6.9729%.
- PEFINDO assigned an idAA rating to PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk’s (Bank bjb) Shelf Registered Sustainability Bond I/2024 (IDR 2 trillion) and an idA rating to its Perpetual Bond I/2024 (IDR 3 trillion). It also affirmed idAA ratings for Bank bjb and its Shelf Registered Bond I/2017 and idA+ ratings for its Subordinated Bonds I-IV.
- PEFINDO affirmed PT Sampoerna Agro Tbk's (SGRO) idA and idA(sy) rating with a stable outlook, including its SR Bond I and Sukuk Ijarah I. The rating reflects SGRO's strong plantation profile, integrated operations, and stable CPO demand, but is limited by its moderate capital structure, cash flow risks, and exposure to commodity price fluctuations and weather.
Sources: PEFINDO and PHEI.
Market Projection
We predict the 10-year Indonesia Government Yield Curve will continue to move within range 6.9358% - 7.0759% for Today. Recommendations: FR0102, FR0089, FR0105, FR0100, FR0062, PBS038, PBS033, PBS005, ORI023T6, ORI025T6 and ORI025T3.
