Daily Economic Research

KBVS ECONOMIC RESEARCH
Friday, 23 January 2026

Macro Highlight :
The US 10-year Treasury yield remained stable at 4.24% following easing trade tensions after President Trump withdrew tariffs on the European Union. Looking ahead, geopolitical developments and the release of manufacturing PMI data from major economies are expected to be the key market drivers today.

The domestic fixed income market staged a technical rebound on Thursday, 22 Jan 2026, as investors welcomed the central bank's stability stance and the LPS decision to maintain guarantee rates, driving the ICBI up by +0.2917 pts (+0.07%) to 440.3875. Investors are expected to remain constructive today, shifting focus to the upcoming SBSN Auction next week.

We anticipate a marginal decrease in the 10Y SUN yield today (23 Jan ‘26), projecting it to range between 6.21% and 6.41%.

 

Regards,    
KBVS Research Team

 

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