Daily Reports Thursday, October 18, 2018

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Danareksa Debt Research Daily Reports Thursday, October 18, 2018

Highlights:

  • Danareksa government bonds yield index decreased 7.97bps from 8.683% to 8.604%
  • Indonesia’s government bonds rally after the finance minister says the budget deficit could be lower than 2% of GDP this year. Signs of improving risk sentiment among EM assets also buoyed Indonesian debt. The gap in state budget may reach a range of 1.83%-2.04% of GDP as Indonesia is seen generating more revenue from taxes, well below the 2.19% target. (Bloomberg)
  • Government bonds volume was IDR17.11 trillion, and it was dominated by medium term (5-15 years). It was higher than the previous day transaction of IDR15.99 trillion but it was lower than its YTD average of IDR18.23 trillion.
  • Corporate bonds volume was IDR1374.16 billion, mostly short term (< 5 years). It was higher than the previous day transaction of IDR386.08 billion and it was higher than its YTD average of IDR1049.40 billion.
  • IDR strengthened 0.34% against USD from 15,201 to 15,150 whilst JCI advanced 1.17% from 5,801 to 5,869.
  • FR0064 yield decreased by 13.10bps from 8.764% to 8.633% while RI28 yield was down by -0.7bps from 4.725% to 4.718%.
  • Brent was down from 81.67 to 80.43 USD per barrel meanwhile WTI Cushing Crude Oil Spot price declined from 71.92 to 69.75 USD per barrel.

Highlights:

  • Danareksa government bonds yield index menurun 7.97bps dari 8.683% menjadi 8.604%
  • Obligasi pemerintah Indonesia rally setelah Menteri Keuangan mengatakan budget deficit bisa lebih rendah dari 2% GDP tahun ini. Tanda-tanda membaiknya sentimen resiko EM juga meningkatkan hutang Indonesia. Gap di budget negara bisa mencapai kisaran 1,83%-2,04% GDP seiring Indonesia menghasilkan pendapatan yang lebih dari pajak, dibawah target 2,19%.
  • Transaksi obligasi Pemerintah tercatat sebesar Rp17.11 triliun, dan dinominasi oleh tenor menengah (5-15 tahun). Angka tersebut meningkat dibandingan dengan volume transaksi sebelumnya sebesar Rp15.99 triliun namun angka tersebut lebih rendah dari rata-rata YTD tahun ini sebesar Rp18.23 triliun.
  • Sementara itu, total volume obligasi korporasi tercatat sebesar Rp1374.16 miliar yang didominasi oleh tenor pendek (< 5 tahun). Volume transaksi tersebut meningkat dibandingkan dengan volume hari sebelumnya sebesar Rp386.08 miliar namun lebih tinggi dibandingkan dengan rata-rata tahun ini sebesar Rp1049.40 miliar.
  • Nilai tukar Rupiah menguat 0.34% terhadap US Dollar, dari 15,201 menjadi 15,150 sedangkan IHSG meningkat 1.17% dari 5,801 menjadi 5,869.
  • FR0064 yield mengalami penurunan by 13.10bps dari 8.764% menjadi 8.633% sementara itu yield RI0126 mengalami penurunan sebesar -0.7bps dari 4.725% menjadi 4.718%.
  • Harga brent mengalami penurunan dari 81.67 menjadi 80.43 USD per barrel sementara harga WTI Cushing Crude Oil Spot menurun dari 71.92 menjadi 69.75 USD per barrel.

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