Government Bond Highlights
At the government bond (Surat Utang Negara, “SUN”) auction dated 05/08/2018, the government did not absorbed the total incoming bid of IDR7.18 trillion. The total incoming bid lower than the indicative target of IDR17 trillion. SPN12190510, the SUN with 12-month tenor, obtained the biggest bid of IDR2.3 trillion. Indonesia Composite Bond Index (ICBI) pared loss by 1,29% into 238.88.
The Central Statistics Agency (BPS) will announce the trade balance of April on Tuesday, 05/15/2018. Indonesia posted the March’s trade balance surplus of USD1.09 billion. For April, we estimated that the figures of trade balance surplus is likely suppressed. On the cycle basis, the export performance of April is lower than the export performance of March. On the other side, the import of April 2018 is estimated to hike ahead of Ramadhan month.
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