Daily Economic Research

KBVS ECONOMIC RESEARCH
Friday, 03 May 2024

Macro Highlight :
UST yields continued their downward trajectory, with the UST2Y yield falling by -8.5 bps and the UST10Y yield declining by -2.7 bps in response to outcomes from the FOMC meeting. Today, investor assessment of the FOMC meeting outcomes is likely to persist, alongside releases including the EU Unemployment Rate, US S&P Global Composite PMI, and other key US labor market data, such as Average Hourly Earnings, Nonfarm Payrolls, and the Unemployment Rate.

The Indonesian Rupiah appreciated with the JISDOR closing at IDR16,202 per USD (Prev: IDR16,275 per USD), contributing to a decline in the yields of SUN during yesterday's trading session. Today, the ongoing downtrend in the DXY is expected to have a positive impact to Rupiah and to the domestic fixed income market, alongside developments in regional and global market sentiments.

We anticipate a decrease in the 10Y SUN yield today (2 Mar ‘24), projecting it to range between 6.96% and 7.16%.

 

Regards,
KBVS Research Team

 

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