Yield UST2Y nears 4%, investors anticipate Earnings Results 3Q22. Wait and see ahead of this week’s FOMC results, making Wall Street open Gap Down in early trading. However, investors began to anticipate a number of 3Q22 Earnings Results, which will be released in October 2022, making Wall Street’s three main indexes move mixed before finally closing up 0.7% each. Concerns also occur in the bond market, UST2Y or short tenor bonds which are very sensitive to rising interest rates, approaching the psychological yield level of 4%. While the Fed’s tight monetary policy had a significant impact on the property market, compared to the labor market and consumer spending that remained high, the US Home Builder US September data fell to 46 (Vs. Surv. 47; Aug. 49), along with rising Mortgage rates. with Fixed Rate 30Y breaking the 6% level for the first time.
KBMI 4 is dominated by Most Active Stocks, as the BI 7DRRR increase does not affect the liquidity of BBCA, BMRI, BBRI or BBNI. Yesterday, the JCI had surpassed the psychological level of 7,200, before finally trimming its gains or closing at the level of 7,195. NHKSI Research sees that normalizing monetary policy has actually become a positive catalyst for KBMI 4 which has a high CASA, so it will not affect margins at least until FY22. For the record, people who tend to hold back on consumption during the Pandemic have made banking CASA increase. Amid the wait and see attitude of investors ahead of the results of the BI RDG, we project that the JCI today will move Bearish with the range of Support: 7,150 / 7.050-7,000 and Resistance: 7,200 / 7,240-7,250 / 7,300 / 7355-7,377.
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