Government Bond Highlights
The government postponed the plan for the auction of the remaining government bonds (SUN) and Sharia sovereign bonds (SBSN) until the end of 2018. The postponement was in light of the fulfillment of the 2018 state
budget (APBN) financing target sourcing from the SUN auction. Indonesia Composite Bond Index (ICBI) closed higher by 0.60% to 240.60.
Bonds market slightly strengthened last week. The rally was aligning with the rupiah appreciation and the buoyant financial investment markets. The rally in SUN, followed by bullish SUN markets in other emerging economies. Based on the ownership, foreign investors’ capital inflows in SUN markets were at IDR33.57 trillion in November. The figure was the biggest since January 2018.
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