Government Bond Highlights
At the auction of Sharia Sovereign Bonds (SBSN) dated 01/08/2019, the Indonesian government absorbed funds of IDR8.65 trillion from the total incoming bid of IDR17.81 trillion. The amount absorbed was much higher than the indicative target of IDR4 trillion. SBSN with 3-month tenor, namely SPNS09072019, obtained the biggest bid of IDR8.2 trillion.
Last week, Indonesia Composite Bond Index (ICBI) nudged up by 0.13% to 241.0. The price of government bonds strengthened slightly amid the increase in the foreign ownership of the government bonds. Last week’s rally in the government bond market was followed by the rally in the equity market and the money market.
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