UST10Y Yield Increase Hits SUN Benchmark. Earlier in the week, benchmark Government Bonds (SUN) led to an increase in yields of up to 3.4 bps. The yield of the United States 10 Year (UST10Y) briefly touched the level of 2.50%, before finally closing at the level of 2.47%. US Treasury yields rose in response to speculation of a 50 bps increase in the Fed Funds Rate in May 2022. Meanwhile, energy prices that still overshadow the inflation outlook, and the depreciation of the rupiah by 0.15% to the level of IDR 14,363/USD, colored the movement of the Government Securities (SBN) market earlier in the week.
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