Global Market Update
Sources: U.S. Bureau of Labor Statistics, Trading Economics and Binaartha
Domestic Market Update
Sources: PHEI, BPS, Bank Indonesia, Binaartha.
Market Projection
- On May 2nd, 2024, the US 10-Years Bond Yield close at level of 4.581%, higher by -0.05% compared to previous day
- The US economy likely expanded its workforce by 243,000 positions in April 2024, marking a modest decrease compared to the 303,000 jobs generated in March. Economists expect ongoing employment growth in industries such as construction and leisure, partially influenced by a recent surge in immigration. While it represents a slowdown from the rapid pace seen in the first quarter, it remains above the average pace observed in the latter half of 2023.
- Japan's 10-year government bond yield went up to about 0.9%, getting close to its highest point in six months. This happened because a recent auction to boost liquidity showed that not many people wanted to buy bonds. Also, the Bank of Japan decided to keep buying bonds at the same rate as before for May.
Sources: U.S. Bureau of Labor Statistics, Trading Economics and Binaartha
Domestic Market Update
- On May 3rd, 2024, Indonesia Government Bond Yield Curve (10-Years Bond) closed at level of 7.0268%, marking a decrease of 8.22 bps compared to previous close.
- In April 2024, the year-on-year (y-o-y) inflation rate stood at 3.00 percent, with the Consumer Price Index (CPI) at 106.40. The primary contributor to this inflation was rice, which accounted for 0.59 percent of the total and experienced an increasing of 15.90% YoY.
- On May 3rd, the Rupiah's JISDOR rate closed at 16,094, marking a 67-bps appreciation compared to yesterday.
Sources: PHEI, BPS, Bank Indonesia, Binaartha.
Market Projection
- We predict the 10-year Indonesia Government Yield Curve will continue to move within range 6.453% - 7.133% for next Monday. Recommendations: FR0102, FR0089, FR0062, FR092, and FR0093.
