Global Market Update

• On June 25th, 2024, the yield on the US 10-year Government Bond closed at 4.2476%, marking a slight decrease of 0.4-bps compared to the previous day.
• Singapore's manufacturing output expanded by 2.9% YoY in May 2024, surpassing market expectations of a 2% increase and recovering from a downwardly revised 1.2% decline in the previous month.
• In Australia, the annual inflation rate as measured by the Consumer Price Index (CPI) rose to 4.0% in May 2024, accelerating from 3.6% in April and exceeding market expectations of 3.8%

          Sources: Bloomberg, Singapore Economic Development Board, Australian Bureau of Statistics, Trading Economics and Binaartha.

            
Domestic Market Update

• On June 26th , 2024, the yield curve for the 10-year Indonesia Government Bond closed at a level of 7.0890%, marking a slight increase of 0.1 basis points compared to yesterday
• According to PEFINDO's rating summary, PT Adira Dinamika Multi Finance Tbk (Adira Finance) has a bond (Shelf Registration Bond IV Phase VI Year 2019 Series C (rated idAAA) worth IDR 190.0 billion maturing on October 4, 2024. Adira Finance intends to use its own funds, including IDR 1.7 trillion in cash and equivalents, to pay off this debt when it comes due.
• Based on KSEI’s information, PT Indonesia Infrastructure Finance will conduct a corporate action regarding its OBLIGASI BERKELANJUTAN I INDONESIA INFRASTRUCTURE FINANCE TAHAP II TAHUN 2020 SERI C. It will pay its 15th coupon interest of 6.9% p.a on July 22, 2024, with a recording date of July 16, 2024

           Sources: PEFINDO, KSEI, PHEI, and Binaartha.

Market Projection
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We predict the 10-year Indonesia Government Yield Curve will continue to move within range 6.5519% - 7.2416% for tomorrow. Recommendations: FR0102, FR0089, FR0097, FR062, and FR0092.

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