External sentiment is still the main factor for foreign investors’ capital outflow from the Indonesian bond market. This action complements the increase in Indonesia’s Credit Default Swap (CDS) earlier in the week. Indonesia’s CDS with a 5-year tenor, was at the level of 86.29 bps yesterday, or exceeding the previous range of 67.5 bps to -86 bps throughout 2021. Meanwhile, Indonesia’s 10-year CDS was at the level of 146.05 bps, or still was in the 126.50 bps to 151.85 bps range in the same period. Yesterday, all benchmark series Government Bonds (SUN) moved higher, with short tenors FR0086 and FR0087 recording the highest price increases. Based on Bloomberg data, the yield for FR0087 was closed at 6.74% level.
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