Global Market Update

• On November 5, 2024, the U.S. 10-year government bond yield closed at 4.2708%.
• The U.S. trade deficit grew to $84.4 billion in September 2024, the largest since April 2022, surpassing forecasts slightly. Exports fell 1.2% to $267.9 billion, with notable declines in pharmaceuticals, aircraft, and crude oil, while imports rose 3% to a record $352.3 billion, driven by higher purchases of pharmaceuticals, computers, and cars.
• The RBA held its cash rate at 4.35% in November, its eighth pause in a row. While headline inflation has dropped, underlying inflation is still elevated, leading the RBA to stay cautious on future rate changes until inflation trends closer to target.

            Sources: Reserve Bank of Australia, Bureau of Economic Analysis (BEA) – US, Trading Economics, and Bloomberg.


Domestic Market Update

• On November 5th, 2024, the Indonesia Government Bond 10 Years Yield closed at 6.8682%.
• In Q3 2024, Indonesia's GDP grew by 1.50% QoQ, led by a 6.06% increase in the construction sector and an 8.44% rise in Gross Fixed Capital Formation. Year-on-year growth was 4.95%, with the "Other Services" sector growing by 9.95% and household-serving non-profit spending up by 11.69%.
• Based on information from KSEI, PT Waskita Karya (Persero) Tbk (WSKT) confirmed that it will pay the 10th revenue sharing for its SUKUK MUDHARABAH I WASKITA KARYA TAHUN 2022 SERI A and SUKUK MUDHARABAH I WASKITA KARYA TAHUN 2022 SERI B in the amounts of Rp 6,367,375,000 and Rp 14,441,262,500, respectively, by November 12, 2024.

            Sources: BPS, KSEI, PHEI, and Bloomberg.




Market Projection
We predict the 10-year Indonesia Government Yield Curve will continue to move within range 6.8121% - 6.9497% for Today. Recommendations: FR0102, FR0089, FR0100, FR0062, FR0103, PBS038, PBS033, PBS005, ORI023T6, ORI025T6 and ORI024T6.

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