US stock markets posted a significant rebound over the past week, marked by the series of new records on Dow Jones. The ratification of the stimulus aid package as well as a smooth vaccination program will provide optimism for this year’s economic recovery. On the other hand, the yield on US 10-year bonds rose to 1.642% or the highest in the past year.
In line with global and regional markets, JCI was also able to increase by 1.5% last week; although tinged with foreign net sell action of IDR 1.4 trillion. The release of the trade balance and the BI Board of Governors Meeting will be the focus of investors in the next week. The JCI movement today is estimated to have the potential to continue strengthening with the range of 6,300 – 6,400.
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