The Strongest Short Tenor. Yesterday’s movement in the Government Securities (SUN) market had anticipated the Fed’s tapering off policy. Benchmark SUN FR0086 and FR0087 recorded yield declines of 5.6 bps and 9.4 bps, or the deepest declines compared to other benchmarks. Yesterday’s movement also responded to the Indonesian government’s policy of continuing the burden sharing program between the government and Bank Indonesia (BI).
Download full report HERE.