After the Food and Drug Administration (BPOM) issued a permit for the emergency use of the Covid-19 Sinovac vaccine, this became the main driving force for the bond market yesterday. President Jokowi is the first person in Indonesia to be vaccinated, having undergone a series of vaccinations at the Merdeka Palace. There are at least four stages, such as: data classification, medical tests, vaccine injection, and provision of Covid-19 vaccine injection identification cards. A number of market players responded to this as a short-term sentiment. The prices of short and medium tenor Government Securities (SUN) strengthened, while long tenors weakened relatively. For the record, the yield on the benchmark 10-year SUN FR0087 fell by 3.3 bps to the level of 6.16%. On the other hand, the yield on the benchmark 20-year long tenor FR0083 rose 5 bps to 6.81% and SUN FR0067 rose 0.8 bps to 7.31%.
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