Government Bonds
Market participants are still closely watching the government’s plan, enforcing a more stringent policy for the Enforcement of Community Activity Restrictions (PPKM). The government won the Sukuk in yesterday’s auction worth IDR 12.5 trillion. This figure is higher than the previous auction, which was worth IDR 10 trillion. Meanwhile, PBS027 and PBS017 are the series that investors are most interested in, accounting for 58% of the total bids for yesterday’s auction. Rupiah pressure also colored yesterday’s trading, weakening 0.28% to IDR 14,480/USD.

Corporate Bonds
PPRO Speeds Up Bond Payments of IDR 400 Billion. Property issuer, PT PP Properti Tbk. (PPRO) has paid IDR 400 billion to KSEI for the payment of its Bond I Year 2016 Series B which will mature on July 1, 2021. PPRO has implemented several special strategies from the financial side, such as cashflow leadership, and cooperation programs with several banks. (DP 0%, KPA Simple, Interest subsidies, etc.), as well as asset recycling for equity participation in affiliates. (Bisnis Indonesia)

The Limit for Imposition of Progressive CPO Tariffs is USD 750 per Ton. The Minister of Finance has adjusted the export levy tariff for palm oil products in accordance with Minister of Finance Regulation (PMK) Number 76/PMK.05/2021 concerning the Second Amendment to PMK Number 57/PMK.05/2020 concerning Tariffs for Public Service Agency Funds for Palm Oil Plantation. The Minister of Finance set a limit on the imposition of progressive rates for crude palm oil (CPO), which changed from USD 670 per metric ton (MT) to USD 750 per MT. In more detail, if the price of CPO is below or equal to USD 750 per MT, then the export levy rate remains fixed, i.e. for example, the tariff for crude products is USD 55 per MT. (Kontan)

US Consumer Confidence Highest. In today’s trading, investors will still be overshadowed by the government’s plan to impose a stricter PPKM policy. Emergency PPKM is reportedly going to be carried out starting July 2, with mall operational restrictions until 17:00 WIB, and the implementation of a curfew. Meanwhile, the US Consumer Confidence Index (CPI) rose to 127.3, the highest level since February 2020.