Daily Economic Research

KBVS ECONOMIC RESEARCH
Friday, 1 August 2025

Macro Highlight :
The US10Y Treasury yield declined by -0.4 bps to 4.36%, in response to a statement by Treasury Secretary Scott Bessent, who announced he would meet with former President Trump on Thursday to discuss the potential extension of the China tariff truce—signaling renewed hopes for a trade agreement. Looking ahead, market focus will turn to today’s release of manufacturing PMI data from the U.S. and other countries, as well as key U.S. labor market indicators—including Nonfarm Payrolls, Participation Rate, and the Unemployment Rate—which are expected to serve as major market movers.

On the domestic front, Indonesia’s bond market experienced a decline yesterday, with the ICBI slipping by –0.09% and the ISIX falling by –0.07%. Looking ahead, market participants are closely monitoring today’s key domestic data releases, including the S&P Global Manufacturing PMI, Balance of Trade, and Indonesia’s Inflation Rate. Attention is also on the latest SRBI auction developments, along with regional and global economic indicators, to inform portfolio positioning and policy outlooks.

We anticipate a marginal increase in the 10Y SUN yield today (1 Aug ‘25), projecting it to range between 6.44% and 6.64%.

 

Regards,
KBVS Research Team

 

Please click download button below for full report.

Download