January 5th, 2023
Economics and Fixed Income Research Report
Global Market Update
•On January 4th , 2023, US Treasury Yield (10-Year Bond) remained stabled at 3.879% compared to December 30th, 2022, due to New Year’s Day.
•In December 2022, Taiwan's foreign exchange reserves increased to USD 554.9 billion from 552.2 billion in the previous month and USD 548.4 billion in the previous year. The number was the largest since records began in 1961, as a result of foreign exchange reserves management and exchange rate movements of other reserve currencies against the USD.
•In December 2022, Caixin China General Manufacturing PMI dropped to 49.00 from 49.40 in November 2022. That number was the lowest print since September, amid a spike in COVID instances that disrupted production.
•The consumer confidence index in Japan rose to 30.3 in December 2022 from a November 2-1/2-year low of 28.6, amid waning COVID disruptions as the pandemic restrictions were already lifted by the Government.
Sources: Trading Economics, Investing, and Binaartha.
Domestic Market Update
•On January 4th, 2023, Indonesia Government Bond Yield (10-Year Bond) rose 121 bps to 7.135% compared to December 30th, 2022.
•In December 2022, MoM Inflation in Indonesia was at 0.66%, rose about +55 bps compared to last month, while in the year-on-year period, Indonesia's inflation was at 5.51%, higher than last year, which was at 1.87%. The MoM inflation was driven by the rise of rice, PAM drink water rates, and broiler chicken egg prices. On the other hand, the main contributors to annual inflation include gasoline, household fuel commodities, and air freight rates.
•In December 2022, S&P Global Indonesia Manufacturing PMI was up to 50.9 compared to a five-month-low of 50.3 in November, which pointed to the 16th straight month of growth. Both output and new orders expanded at stronger rates, amid upturns in purchasing activity and employment.
Sources: BPS, Investing, Trading Economics, and Binaartha.
Market Projection
•We predict the 10-year Indonesia Government Yield Curve will continue to move within range 7.037%- 7.185% for tomorrow.
Economics and Fixed Income Research Report
Global Market Update
•On January 4th , 2023, US Treasury Yield (10-Year Bond) remained stabled at 3.879% compared to December 30th, 2022, due to New Year’s Day.
•In December 2022, Taiwan's foreign exchange reserves increased to USD 554.9 billion from 552.2 billion in the previous month and USD 548.4 billion in the previous year. The number was the largest since records began in 1961, as a result of foreign exchange reserves management and exchange rate movements of other reserve currencies against the USD.
•In December 2022, Caixin China General Manufacturing PMI dropped to 49.00 from 49.40 in November 2022. That number was the lowest print since September, amid a spike in COVID instances that disrupted production.
•The consumer confidence index in Japan rose to 30.3 in December 2022 from a November 2-1/2-year low of 28.6, amid waning COVID disruptions as the pandemic restrictions were already lifted by the Government.
Sources: Trading Economics, Investing, and Binaartha.
Domestic Market Update
•On January 4th, 2023, Indonesia Government Bond Yield (10-Year Bond) rose 121 bps to 7.135% compared to December 30th, 2022.
•In December 2022, MoM Inflation in Indonesia was at 0.66%, rose about +55 bps compared to last month, while in the year-on-year period, Indonesia's inflation was at 5.51%, higher than last year, which was at 1.87%. The MoM inflation was driven by the rise of rice, PAM drink water rates, and broiler chicken egg prices. On the other hand, the main contributors to annual inflation include gasoline, household fuel commodities, and air freight rates.
•In December 2022, S&P Global Indonesia Manufacturing PMI was up to 50.9 compared to a five-month-low of 50.3 in November, which pointed to the 16th straight month of growth. Both output and new orders expanded at stronger rates, amid upturns in purchasing activity and employment.
Sources: BPS, Investing, Trading Economics, and Binaartha.
Market Projection
•We predict the 10-year Indonesia Government Yield Curve will continue to move within range 7.037%- 7.185% for tomorrow.
