Live Chat Software
Berita Dan Riset Terbaru
Weekly Update
Danareksa Weekly Report, 16 Jan 2018 : A Calm Week
January 24, 2018 13:38

Moving sideways
The Danareksa Govt Bonds yield index moved sideways last week. The yield index closed at 6.01% or down 3bps during the week. The total return YTD as of 12 January 2018 reached 1.61%, slightly higher than in the same period last year when the total return was 1.49%. Moreover, the spread between the 10-year yield curve and 2-year yield curve or yield slope did not significantly change. Over the week, the yield slope was up slightly from 106bps to 108bps.

Total trading in Government bonds in the secondary market reached IDR129.8 trillion last week or up IDR17.1 trillion from the figure in the previous week. For corporate bonds, trading in the secondary market increased by IDR612 billion to IDR3.1 trillion.

Incoming bids for SBSN reached more than IDR32 trillion
On 9 January 2018, the Government held an auction for SBSN series, namely SPNS10072018, PBS016, PBS002, PBS017, PBS012, and PBS004. PBS017 is a new series which will mature on 15 October 2025 carrying a coupon rate of 6.125%. From the auction, it is known that total incoming bids reached IDR32.3 trillion. Investors were most interested in the SPNS series with incoming bids of IDR10.64 trillion, followed by PBS016 with incoming bids of IDR7.2 trillion. This indicates that investors tended to have a preference for short tenors. Meanwhile, the winning bids for the six-series amounted to IDR13 trillion with winning bids for the PBS016 series reaching IDR4.37 trillion with a bid to cover ratio of 1.65.