Global Market Update

• On March 10th, 2023, the US Treasury yield for the 10year bond fell from 3.907% on the previous day to 3.704%.
• On March 13th, 2023,the yield on the 10-year JGB fell to 0.3%, the lowest since mid-December, and tracked a global bond rally after the collapse of Silicon Valley Bank prompted a flight to safety and pared bets on higher interest rates.
• During the March meeting held on March 10th, 2023, the Bank of Japan (BoJ) unanimously decided to maintain its key short-term interest rate at a level of negative 0.1% and to keep the 10-year bond yields around 0%, without making any alterations.

Sources: Investing, Bank of Japan, and Binaartha.
 
Domestic Market Update

• On March 10th, 2023, Indonesia Government Bond Yield (10-Year Bond) fell by to 3.704%from 3.907%compared to the previous day.
• The 5-year CDS premium of Indonesia increased to 93.26 basis points as of March 9th, 2023, from 84.64 basis points as of March 3rd, 2023.
• Indonesia's foreign exchange reserves as of the end of February 2023 increased to USD 140.3 billion compared to USD 139.4billionat the end of January 2023. The rise was influenced by tax revenues and foreign government loan withdrawal.

Sources: Bank Indonesia, Investing, and Binaartha.
 
 
Market Projection
We predict the 10-year Indonesia Government Yield Curve will continue to move within range 6.868% -7.036% for tomorrow. Recommendations: FR0076, FR0080, FR0092, and FR0097.

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