SUN Benchmarks are mixed, amid the lack of sentiment this week. FR91 recorded a 4bps yield increase to the level of 7.30%, amid a wait-and-see attitude for the release of Indonesia’s inflation data for the September period, on Monday next week. From a global perspective, investors are looking at the effectiveness of Hawkish’s discourse of 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.

Corporate Bonds
MPMX: Ready to Issue MTN. An affiliated company of PT Mitra Pinasthika Mustika Tbk (MPMX), namely PT JACCS Mitra Pinasthika Mustika Finance Indonesia, plans to issue Medium Term Notes (MTN) III Phase I-2022 of IDR150 billion, with an interest rate of 6.52%. It is planned that the electronic distribution of MTN (Emission Date) will be carried out on September 28, 2022, so that the first interest payment will be made on December 28, 2022. (Emiten News)

Domestic Issue
BI and Bank Negara Malaysia Renew Bilateral Swap Agreement. Bank Indonesia (BI) and Bank Negara Malaysia bilateral currency swap arrangement (LCBSA) of up to 8 billion Malaysian ringgit or IDR 28 trillion on 23 September 2022. This agreement is effective for three years and is on an agreement first agreed in 2019. (Investor Daily)

Investor Eyed on Rupiah depreciation, approaching the level of USD15,300/USD. The UST market strengthened, as the yield of UK30Y Gilts fell by more than 100Bps, or after the previous day the UK30Y Gilts approached the psychological level of yield of 2%. The UK bond market strengthened amid the discourse of the BoE’s QE worth GBP65B, or the BoE intervened to buy UK30Y Gilts worth GBP5Bn per day until 14 October.

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