{"id":5250,"date":"2025-04-23T03:15:42","date_gmt":"2025-04-23T03:15:42","guid":{"rendered":"https:\/\/himdasun.or.id\/?p=5250"},"modified":"2025-04-23T03:15:44","modified_gmt":"2025-04-23T03:15:44","slug":"trimegah-economics-20250423","status":"publish","type":"post","link":"https:\/\/himdasun.or.id\/en\/2025\/04\/23\/trimegah-economics-20250423\/","title":{"rendered":"Trimegah Economics 20250423"},"content":{"rendered":"<p class=\"wp-block-paragraph\"><strong>Today\u2019s highlights:<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Markets got major relief, with US top officials expecting de-escalation with China. Bessent saw the on-going triple digit tariffs to be unsustainable. However, large deals may take 2\u20143yrs. From Trump himself, he anticipated no \u201chardball\u201d negotiation, while he had no intention to fire Powell. With this major de-escalation, we reiterated our call on BI-Rate cut (TRIM: 5.50%, cons: 5.75%, prev: 5.75%), as data suggested the needs to spur growth, with concerns on flows likely toning down.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>From the bond market, FR 81, 40, 84, and 83 are currently the cheapest based on our yield curve model.&nbsp;<\/em><em>Last national business day, the dollar index was closed at 99.92 (+0.7%). Rupiah was depreciated by 0.3% at USDIDR at 16,860. The UST yield was down by -1.0bps to 4.40% and 10yr INDOGBR was up by +2.3bps to 6.99% \u2013 the spread between the two was at 259bps.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Economy: Bessent expected tension with China to de-escalate<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to US Treasury Secretary Scott Bessent, the on-going tariffs\u2014US\u2019s 145% and China\u2019s 125%\u2014was not sustainable. While the tensions could cool down a few months ahead, dealing with larger issues would take 2\u20143yrs. On another note, Trump said that US was doing \u201cjust fine\u201d with China, and he anticipated no \u201chardball\u201d negotiation.&nbsp;<em>Source: Bloomberg<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Economy: Trump had no intention to fire Powell<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Speaking to reporters, Trump expressed his desire for Powell to be more proactive in considering rate cuts. The President remarked that it was the perfect time to lower interest rates, emphasizing that it\u2019s better to act early or on time rather than too late. Previously, US National Economic Council stated that Trump had explored whether he could fire Powell or not.&nbsp;<em>Source: Bloomberg<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Please visit this&nbsp;<a href=\"https:\/\/drive.google.com\/file\/d\/1uM2qZxEhcfdizNFrSAIv-87CHUOtpChW\/view?usp=sharing\"><strong>link<\/strong><\/a>&nbsp;to view the full version of this output.<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Research Division<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">PT Trimegah Sekuritas Indonesia, Tbk.<\/p>","protected":false},"excerpt":{"rendered":"<p>Today\u2019s highlights: Markets got major relief, with US top officials expecting de-escalation with China. Bessent saw the on-going triple digit [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[7],"tags":[],"class_list":["post-5250","post","type-post","status-publish","format-standard","hentry","category-market-research"],"_links":{"self":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts\/5250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/comments?post=5250"}],"version-history":[{"count":1,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts\/5250\/revisions"}],"predecessor-version":[{"id":5251,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/posts\/5250\/revisions\/5251"}],"wp:attachment":[{"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/media?parent=5250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/categories?post=5250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/himdasun.or.id\/en\/wp-json\/wp\/v2\/tags?post=5250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}