Jobless claims increased by 8% WoW amid several technology sector layoffs. The efficiency efforts of several technology issuers in order to maintain healthier performance, along with the results of the FOMC Meeting Minutes on Wednesday local time, which showed the FFR increase may soon slow down. As for US Initial Jobless Claims, the data for the week ending Nov. 19 recorded 240K claims (+8% WoW). Another opinion stated that this week’s jobless claims data was relatively biased at the beginning of the holiday season, as companies are temporarily closed and slowed their hiring, indicating the US labor market remains solid.

Corporate Bonds
BALI to Issue IDR 500 Billion Sukuk. PT Bali Towerindo Sentra Tbk (BALI) will issue Sustainable Sukuk Ijarah I with a target of raising funds to reach IDR 2 trillion. This time, BALI will issue Sustainable Sukuk Ijarah Phase I Year 2022 with a maximum remaining ijarah fee of IDR 500 billion in three series. Series A will be offered with an indication of 7.37%-7.87% ijarah installments with a tenor of 370 calendar days from the issuance date. Series B with an indication of 9.75%-10.25% ijarah installments with a tenor of three years. Series C with a tenor of five years will be offered with an indication of ijarah installments in the range of 10.25% to 10.75%. (Kontan)

Domestic Issue
2023 Provincial Minimum Wage Increase Is Not Mandatory at 10%. The increase in the 2023 provincial minimum wage (UMP) must refer to the Regulation of the Minister of Manpower Number 18 of 2022 regarding the Determination of the 2023 Minimum Wage. However, the amount of increase is not mandatory at 10% but is adjusted to the productivity and employment expansion opportunities in each region. (Reuters)

Investors are paying attention to the FOMC Meeting Minutes results, which show that the Fed may begin to loosen the pace of FFR hikes. These Fed minutes become a complement to other US economic data, such as the Oct. Unemployment Rate, which rose to a level of 3.7% (vs. Sept. 3.5%), and inflation slowed down within both the CPI and PPI levels. For the record, Oct. US CPI Headline was at 7.7% (Vs. Sept. 8.2%); and Oct. US PPI Headline was 8.0% (Vs. Sept. 8.4%).

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