Global Market Update

• On October 28th, 2024, the US 10-Year Government Bond yield closed at 4.2821%, an increase of 4.22-bps compared to yesterday.
• Hong Kong’s trade deficit narrowed to $53.2 billion in September 2024 from $64.6 billion a year earlier. Exports rose 4.7% YoY to a two-year high of $398.1 billion, led by office machines, data processing equipment, and non-ferrous metals. Imports grew 1.4% YoY to $451.3 billion, boosted by office machines, power-generating machinery, and scientific instruments.
• Japan’s unemployment rate dropped to 2.4% in September 2024, down from 2.5% in August. This is the lowest rate since January, with 40,000 fewer unemployed people, bringing the total to 1.68 million.

            Sources: Census and Statistics Department - Hong Kong, Ministry of Internal Affairs & Communications - Japan, Bloomberg, and Trading Economics.


Domestic Market Update

• On October 28th, 2024, the Indonesia Government Bond 10 Years Yield closed at 6.8673%.
• On October 28, 2024, the government raised IDR 19.36 trillion through the sale of retail bonds ORI026T3 and ORI026T6, the first supporting sustainable development goals (SDGs). With coupon rates of 6.30% and 6.40%, these bonds will finance the 2024 state budget and SDG projects, demonstrating the government’s commitment to addressing global challenges and promoting economic growth.
• Based on KSEI's information, PT Bank Mandiri Taspen will pay the principal and 20th coupon of its "OBLIGASI BERKELANJUTAN I BANK MANDIRI TASPEN," with an interest rate of 8.2% p.a., on its maturity date, November 26, 2024.

         
            Sources: DJPPR Kemenkeu, KSEI, PHEI, and Bloomberg.



Market Projection
We predict the 10-year Indonesia Government Yield Curve will continue to move within range 6.7789% - 6.9158% for Today. Recommendations: FR0102, FR0089, FR0100, FR0062, FR0103, PBS038, PBS033, PBS005, ORI023T6, ORI025T6 and ORI024T6

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