Global Market Update

• On July 23rd, 2024, the yield on US 10-year government bonds closed at 4.2506%, down by 0.19-bps compared to the previous day
• In July 2024, the UK Composite PMI rose to 52.7, surpassing expectations of 52.6. This indicates strong growth in both services and manufacturing, with manufacturing reaching its highest output since February 2022. The economy has been expanding steadily, averaging a PMI of 53.0 throughout 2024.
• In June 2024, Malaysia's annual inflation rate unexpectedly held steady at 2.0%, below the expected 2.2%. This marks the second consecutive month at this level, the highest since August 2023. Prices increased for food, housing, health, transport, and other categories, reflecting ongoing inflationary pressures across various sectors.

          Sources: S&P Global, Department of Statistics - Malaysia, and Bloomberg.

            
Domestic Market Update

• On July 24th , 2024, the yield curve for the 10-year Indonesia Government Bond closed at a level of 7.0256%, marking a slight decrease of 0.47-bps compared to previous day.
• According to KSEI's information, PT Adhi Commuter Properti, Tbk (ADCP:IJ) will conduct a corporate action by paying its 9th coupon, which is 11% per annum, quarterly, for its "OBLIGASI II ADHI COMMUTER PROPERTI TAHUN 2022 SERI B" on August 26th, 2024, with a recording date of August 20th, 2024.
• According to KSEI's information, PT Industri Kereta Api (INKA) will pay its 18th quarterly profit sharing for "SUKUK MUDHARABAH I INKA TAHUN 2020" on August 26th, 2024, with a recording date of August 20th, 2024. The exact amount will be confirmed later due to the floating rate.

         
           Sources: PHEI and KSEI.

Market Projection
We predict the 10-year Indonesia Government Yield Curve will continue to move within range 6.9035% - 7.0430 % for tomorrow. Recommendations: FR0102, FR0081, FR00100, FR0091, and FR0097.

DOWNLOAD FULL REPORT HERE