Fears of a soft recession, investors are interested in Safe Haven. Benchmark FR91 yields fell 5 bps, and FR90 even fell 24 bps a week. Previously, market optimism faded after consumer expectations of the Conf version. The US Consumer Confidence Board in June fell to 98.7, the lowest since February 2021. Recession fears increased after the Fed’s aggressive Hawkish stance against rising inflation.

Corporate Bonds
HEAL: Offers IDR553 Billion Bonds. PT Medikaloka Hermina Tbk (HEAL) will offer IDR553.5 billion bonds. The bond issuance is for expansion, including the purchase of land, medical equipment, and working capital. The bonds offered with a principal amount of IDR100 billion consist of two series, series A bonds worth IDR37 billion and series B bonds offered IDR63 billion. (Emiten News)

Domestic Issue
Indonesia G20 Presidency Target. The government targets Indonesia’s G20 Presidency to produce implementable economic projects to support global economic recovery, focusing on three main priorities. First, reorganizing a more inclusive world health architecture by ensuring a more equitable availability of vaccines and a resilient and inclusive health system. Second, encouraging a digital-based economic transformation to encourage MSMEs and create new sources of economic growth. Third, accelerating the transition to more environmentally friendly energy that is not only fair between the interests of developing and developed countries, but must also be affordable, both in terms of technology and financing. (CNN Indonesia)

GDP Contraction Negative sentiment, coloring SUN trading today. US GDP Annualized QoQ 1Q22 contracted -1.6% (Vs. Surv. -1.5%), as inventories of unsold goods increased, amid falling consumer spending. The US economy in the first quarter contracted more than expected as the trade deficit widened to a record. Meanwhile, Personal Consumption 1Q22, a 70% contributor to the economy, only grew +1.8% (Vs. Surv. +3.1%).

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