The New Covid-19 Variant Negative Sentiment, again hit the bond market. FR0086 and FR0087 respectively posted 10 bps and 14 bps increases in yield yesterday. This figure exceeds the increase in the yield on the benchmark series, which only recorded an increase of between 3.5 bps to 8.5 bps. A number of market players responded negatively to the discovery of a new variant of the corona virus which can transmit more rapidly in the UK. The discovery of this virus mutation, in the midst of US stimulus approval, should have been a positive catalyst for the rupiah. Apart from that, yesterday’s market movement was in the midst of awaiting the reshuffle of the 6 New Ministers of the Advanced Indonesian Cabinet.
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