Based on Bloomberg data, the yield on the benchmark 15-year Government Bond (SUN) FR0088 is at the level of 6.37 percent. This figure is lower than the 10-year benchmark SUN FR0087 at 6.66% level. The volatility of the rupiah has made market players avoid short tenors, and there are still concerns over the prospects for the domestic economy going forward. In addition, market players are also interested in the FR0088 price, which is far below par. On the other hand, investors are still adjusting the spread price on the 10-year SUN yield with the same UST tenor, which is currently around 510 bps. Overall, the increase in government securities yield was in line with the increase in UST yield, which was triggered by concerns that the Fed would stop buying bonds.
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