Sentiment indicating the Fed’s hawkish policy next year, still dominated yesterday’s Government Securities (SUN) auction. Based on data from the Directorate General of Financing and Risk Management (DJPPR), yesterday’s SUN auction bid was less than IDR 70 trillion. This figure is lower than the previous auction of IDR 78.5 trillion. Bids entered this time, unable to continue the trend of increasing demand in 4x consecutive auctions. The Fed’s hawkish policy will generally be followed by the central banks of other countries, including Indonesia.

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