Domestic Government Bonds (SUN) yields rose within a week, indicating that market players have relatively given up these safe haven assets. This increase was amidst the increase in the yield of US Treasury (UST) in the same period. The 10-year UST yield touched the 1.6% level. The increase in yield on UST and SUN was triggered by optimism for global economic recovery due to the ongoing massive Covid-19 vaccination program. At the end of the week, the 10-year benchmark SUN yield remained relatively low at 6.57%. On the other hand, the movement on the SUN market at the weekend was also awaiting the release of February inflation data. NHKSI Research projects Indonesia’s inflation in February 2021 to be in the range of 0.09%. This relatively well-maintained inflation has the opportunity to sustain movement in the rupiah at the beginning of the week.
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