SUN benchmarks were mixed, ahead of September inflation data which broke 1%. Based on a Bloomberg survey, Indonesia for the September MoM period is projected to record an inflation rate of +1.1% (Vs. Aug. deflation -0.21%). In addition to fuel and transportation within the city, investors are looking at the factor of the increase in rice prices as one of the contributors to inflation in September 2022.

Corporate Bonds
ISAT: Build a Telecommunication Network. PT Indosat Tbk (ISAT) executed affiliated transactions worth IDR133.57 billion. This step was taken to provide Very Small Aperture Terminal (VSAT) network devices and services. Meanwhile, the company has conducted a tender to select a VSAT provider, and Lintasarta was chosen as the winner of the tender. (Emiten News)

Domestic Issue
Minister of Finance: Indonesia’s 3Q22 Economy Grows 6%. Indonesia’s economy in 3Q22 is expected to reach 5.6% – 6%, much higher than the position in the previous two quarters, said the Minister of Finance. Meanwhile, Indonesia’s economic driver was able to accelerate, one of which was exports, during that period it managed to grow 30.15% YoY to reach USD27.91B. Meanwhile, the trade balance in August was a surplus of USD5.76 billion. In addition, household consumption and investment also continued to grow well. (CNBC Indonesia)

The lack of sentiment on economic data this week has made investors begin to pay close attention to the release of Indonesia’s inflation data for the September period, on Monday next week. On the global side, consumer confidence is stronger, reinforcing expectations of an FFR hike of up to 4.4% in FY22E. One indicator of consumer confidence, Conf. US Consumer Confidence Board Sept. rose to the level of 108.0 (Vs. Aug. 103.6), one of which was supported by falling gas prices. In more detail, investors will observe the effectiveness of Hawkish’s discourse on further FFR increases of more than +50 bps in November and December. In the midst of efforts to reduce inflation, continued tight monetary policy has the opportunity to bring the US economy to the threat of a recession in 2023.

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