SUN market was mixed at the start of the week, amidst waiting for the release of inflation and FFR data. Based on a Bloomberg survey, US Headline CPI Nov. projected to slope to 0.3% MoM and 7.3% YoY; with FFR projected to only increase +50Bps (Vs. +75Bps) to 4.25%-4.50%; the data will be released on Tuesday and Wednesday local time respectively. Sloping inflation has the opportunity to end the increase in FFR +75bps in the last four FOMC meetings.

Corporate Bonds
BBTN: Expand the Digital Mortgage Ecosystem. PT Bank Tabungan Negara (Persero) Tbk (BBTN) is working on the digital mortgage ecosystem of the Property sector, which is shown by building and realizing the digital mortgage ecosystem. During the go of disbursing mortgages, both subsidized and non-subsidized, the Company has disbursed financing of almost IDR400 trillion. This performance resulted from the Company’s hard work in adding mortgage variety, mortgage program innovation, and cooperation expansion with various parties. (Emiten News)

Domestic Issue
Sri Mulyani Ensures Cigarette Excise Tax Increases by 10% Starting January 1, 2023. Finance Minister, Sri Mulyani, confirmed the implementation of an increase in the rate of tobacco excise (CHT) or cigarette excise by an average of 10% starting January 1, 2023, amid several questions about the clarity of the roadmap or a map for the CHT implementation flow. Several parties also highlighted the problem of the illegal cigarette cycle, which continues to be above 5%. (CNN Indonesia)

The movement of SUN at the beginning of the week, amidst the lack of sentiment, both domestic and global. Tuesday’s projected sloping US inflation data release has investors eyeing a potential end to the Aggressive Hawkish, four straight FFR hikes of +75Bps.

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