Daily Economic Research

KBVS ECONOMIC RESEARCH
Friday, 02 January 2026

Macro Highlight :
Rising geopolitical tensions between the United States and Venezuela have added a new layer of global uncertainty. Looking ahead, the release of manufacturing PMI data across several economies, alongside ongoing geopolitical tensions, is expected to shape movements in the global fixed income market at the start of trading in 2026.

Indonesia’s fixed-income market traded on a strongly constructive tone, supported by a strengthening Rupiah over the past week. Looking ahead, the domestic fixed-income market is expected to remain sensitive to global rate developments and USD/IDR dynamics, as investors assess whether the recent improvement in FX sentiment can be sustained amid evolving expectations for the Fed’s policy path.

We anticipate an increase in the 10Y SUN yield today (2 Jan ‘25), projecting it to range between 5.97% and 6.17%.

 

Regards,    
KBVS Research Team

 

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