Today’s Outlook:
– Federal Reserve Bank of Philadelphia President Patrick Harker said that he believes the central bank is likely done with its interest rate hike cycle as price pressures have eased.
– Investors also monitored news from the Middle East. On Friday, Israel said it had carried out an attack inside the Gaza Strip, the first announcement of a ground operation aimed at Hamas fighters after their deadly assault on Israel. The United Nations said Israel’s call for Gaza civilians to leave Gaza was not possible “without devastating humanitarian consequences.”
– US Treasury prices rose as investors sought safe positions while US crude oil prices rose 5.8%.
– Today, Indonesia will release Trade Balance (Sept.) figures which is predicted to be a surplus of USD2.13 billion, down from the previous month’s USD3.12 billion. The main thing is to see if the negative growth in Exports & Imports can start to ease. 

Corporate News
XL Axiata (EXCL) Repays IDR 280 Billion Bonds PT XL Axiata Tbk (EXCL) will pay off two bonds maturing on October 16, 2023 with a total value of IDR 280 billion.  The two bonds are XL Axiata Sustainable Bonds I Phase I Year 2018 Series C and XL Axiata Sustainable Sukuk Ijarah II Phase I Year 2018 Series C. XL Axiata Corporate Secretary Ranty Astari Rachman in an official statement to the Indonesia Stock Exchange quoted on Sunday (15/10/2023) revealed, the company will pay off the principal of the 2018 Phase I Bonds Series C and 2018 Phase I Sukuk Series C, along with coupons and profit sharing of the bonds. EXCL will also pay off the principal of Series C bonds worth IDR 131 billion and a coupon of IDR 3.14 billion. Not only that, the telecommunications issuer will also pay off the principal of sukuk ijarah Series C worth IDR 149 billion. At the same time, the company also paid an ijarah fee for the Series C sukuk of IDR 3.57 billion. (Investor Id)

Domestic Issue
A Week Offered, ORI024 Sold IDR 3.47 Trillion Sales of ORI024 series Retail State Bonds sold up to IDR 3.47 trillion from both series during the week offered until Sunday, (15/10/2023). The Ministry of Finance’s Directorate General of Financing and Risk Management (DJPPR) set a sales target of IDR 5 trillion each from both ORI024 series. Based on data from distribution partner Investree, Sunday, (15/10/2023) at 10.30 WIB, ORI024 series T3 or 3-year tenor has sold IDR 2.72 trillion, from the issuance target of IDR 5 trillion. That means, ORI024 T3 has sold 54.45% of the target. Meanwhile, ORI024 T6 series or 6-year tenor has sold as much as IDR 747.78 billion from the sales target of IDR 5 trillion. As a result, until now ORI024 T6 has only sold 14.96% of the target. Thus, the tendency of investors in the country is more dominant to hunt for short tenor ORI024 during the seven-day offering period. (Bisnis)

US10YT is stuck between the MA20 Support & MA10 Resistance, in a narrow range of yields: 4.635% – 4.671%. Watch the breakout direction before making a decision. Support follows: lower channel (uptrend) around 4.57%.

ID10YT is looking for solid support around the 50% Fibonacci retracement in the range of : 6.748% – 6.695%. While the nearest Resistance is the MA20 and MA10 range at a yield of: 6.886% – 6.931%. ADVISE: Hold; Wait & See.

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