Government securities market is moving mixed, amid a number of sentiments. Domestically, the domestic economy still responded positively to the realization of domestic economic growth in 3Q22 which grew by 5.72% YoY. As for the external side, investors continue to watch the results from the U.S. Midterms that are tight, have the opportunity to make changes to the map of political power in the US Congress, which will make it difficult to ratify drastic policy changes.
Corporate Bonds
TLKM: Win the Selection of 2.1 GHz Band Usage. PT Telkom Indonesia (Persero) Tbk (TLKM), through its subsidiary, Telkomsel, officially became the winner in the Selection of 2.1 G.Hz Radio Frequency Band User for the Implementation of Cellular Mobile Networks 2022, which was organized by the Ministry of Communication and Informatics Republic of Indonesia. Additionally, the spectrum addition will be optimized to improve network capacity and quality, encourage the acceleration of 4G/LTE infrastructure, and expand 5G coverage. (Emiten News)
Domestic Issue
Sri Mulyani Projected Economic Slowdown in 4Q22. Finance Minister, Sri Mulyani, estimated that Indonesia’s economic growth in 4Q22 will be slower than in 3Q22, reaching 5.72%. This happens due to the economic cycle which usually slows down at the end of the year, as well as the high base effect in 4Q21 which grew by 5.02%. However, the Ministry of Finance predicts that the economic growth rate in the whole of 2022 will remain in the range of 5%-5.3%. (CNN Indonesia)
Recommendation
Investors are looking forward to the release of US inflation data. Today’s SUN market moves, ahead of the release of inflation data, which will provide new clues about the Fed’s monetary policy measures. Based on a Bloomberg Survey, US Headline Inflation Oct. projected at 7.9% YoY (Vs. Sept. 8.2%).
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