Daily Economic Research

KBVS ECONOMIC RESEARCH
Wednesday, 21 May 2026

Macro Highlight :
Brent crude oil prices remained elevated at around USD101/bbl (Prev: USD98/bbl), while gasoline prices stayed high at around USD3.62/gal (Prev: USD3.55/gal). Investors now await UK CPI, Euro Area CPI, and US crude inventories as key catalysts.

Positive fiscal data from stronger APBN realization revenue in Apr '26, which rose 13.3% YoY driven by a 16.1% YoY increase in tax revenue, helped narrow the fiscal deficit to IDR164.4 tn or 0.64% of GDP (Prev: IDR240.1 tn or 0.93% of GDP). Investors are now closely watching the upcoming BI Rate decision as the key near-term market catalyst.

We anticipate an increase in the 10Y SUN yield today (20 May ‘26), projecting it to range between 6.68% and 6.88%.

 

Regards,
KBVS Research Team

 

Please click download button below for full report.

Download