Daily Economic Research

KBVS ECONOMIC RESEARCH
Wednesday, 1 April 2026

Macro Highlight :
Geopolitical tensions showed signs of easing after Donald Trump indicated that the conflict with Iran could potentially be resolved within the next two to three weeks, with the Strait of Hormuz expected to reopen automatically should a peace agreement be reached. Looking ahead, market attention will shift toward key U.S. economic data releases, including ADP employment, retail sales, and the manufacturing PMI, while investors continue to closely monitor geopolitical developments.

Government liquidity support appears to have had only a limited impact on primary SBN demand, as incoming bids at yesterday’s SUN auction reached IDR58.2 tn (Prev: IDR50.94 tn). Looking ahead, investors will closely monitor the government’s response to concerns over the fiscal deficit amid ongoing global geopolitical pressures, particularly as new taxpayer registrations have only reached 10 mn, alongside key macroeconomic releases due today, including inflation and trade balance data.

We anticipate a decrease in the 10Y SUN yield today (1 Apr ‘26), projecting it to range between 6.70% and 6.90%.

 

Regards,
KBVS Research Team

 

Please click download button below for full report.

Download