Foreign Inflows into SBN
Last week, foreign inflows worth IDR4.5 trillion flocked into sovereign bonds (SBN). SBN was in bullish favor as global investors were sanguine about the possible success of the U.S. and China trade deals. Yet, downward revisions of the U.S. data slowed SBN. The lower-than estimate data were January’s durable goods order at the modest growth of 0.1% m-m―much lower than the estimate of 0.3% m-m; Markit’s estimate of February’s PMI at 53.7%, lower than the consensus of 54.9. Foreign inflows into SBN is currently worth IDR927.17 trillion or 37.73% of the total of existing SBN.

SBN Auction
The Indonesian government secured the proceeds of IDR8.12 trillion from the total incoming bid worth IDR21.33 trillion at SBN auction dated 02/12/2019. The amount secured topped the indicative target of IDR8 trillion. SPNS01082109, SUN with 6-month tenor, secured the biggest bid of IDR7.47 trillion.


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