The government is aggressively winning the two 5-year and 10-year benchmark series, each worth IDR 12.4 trillion at the Government Securities (SUN) auction last Tuesday. The coupon rate, which is only 5.50% and the short tenor yield of 5.15%, has made the government aggressive in winning FR0086. The high volatility of the stock market has made SUN most traded by investors in the last three days. The 10-year benchmark FR0087 posted the highest bid of nearly IDR 35 trillion, far surpassing other fixed rate series ranging from IDR 5.3 trillion to IDR 17.5 trillion offered at the auction yesterday. In addition, the implementation of restrictions on community activities (PPKM) for Java and Bali until February 8 has encouraged market players to return to their current interest in SUN.

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