Bond Market Review (Wednesday,06/03)
Prices of Government Debt Securities (SUN) closed mixed in yesterday’s trading session. PHEI data showed that the yield on the 5-year SUN benchmark (FR0109) declined by 1 basis point (bp) to 6.68%, while the yield on the 10-year SUN benchmark (FR0108) remained unchanged at 6.66%. According to Bloomberg data, the 10-year SUN yield curve (GIDN10YR) decreased by 6 bps to 6.70%. The 10-year yield remains within our weekly estimated range for this week of 6.58%–6.85%.
Outright transaction volume in Government Securities (SBN) reached Rp19.2 trillion yesterday, lower than the previous day’s volume of Rp26.4 trillion. FR0059 and FR0109 were the two most actively traded series in the secondary market, with transaction volumes of Rp4.2 trillion and Rp2.2 trillion, respectively. Meanwhile, outright transaction volume for corporate bonds totaled Rp12.7 trillion.
Bloomberg data showed that the Rupiah weakened by 0.71% against the US Dollar, moving from Rp17,839/US$ on Tuesday to Rp17,967/US$ yesterday.
Bond Market Preview (Thursday,06/04)
Geopolitical tensions in the Middle East remain relatively elevated. Brent crude oil prices increased by 1.37% from the previous day to US$97.3 per barrel. On a year-to-date basis, Brent crude prices have risen by approximately 59.9% from US$60.9 per barrel at the end of 2025.
As of this morning, global indicators point to somewhat negative sentiment for the bond market, reflected in higher US Treasury (UST) yields and wider Indonesia Credit Default Swap (CDS) spreads. The 5-year and 10-year UST yields increased by 4 bps and 3 bps, respectively, to 4.21% and 4.49%. Meanwhile, Indonesia’s 5-year CDS rose by 4 bps to 93 bps.
Taking the above factors into account, we expect Rupiah-denominated SUN yields to remain sensitive to global developments and domestic liquidity conditions. Based on yield-curve valuation, the following bonds may be attractive for investors: FR0090, FR0059, FR0064, FR0104, and FR0109.
Kindly find the link to our Fixed Income Daily Market View for June 4, 2026 provided below this message. Thank you and best regards!
IND
https://research.bnisekuritas.co.id/doc-view?z=8d5a6310-968e-4607-89ff-1ebb900751cd
ENG
https://research.bnisekuritas.co.id/doc-view?z=80165949-4bea-4634-883d-1fb6a743a81e
