Daily Economic Research

KBVS ECONOMIC RESEARCH
Friday, 10 October 2025

Macro Highlight :
Global government bond yields moved mixed in yesterday’s trading session. Today’s scheduled release of key labor market data, including Nonfarm Payrolls, the unemployment rate, and the University of Michigan’s 1-year and 5-year inflation expectations, will be closely watched if the data release proceeds as planned despite the ongoing government closure.

The ICBI extended its gains, rising by +0.26%, while the ISIX advanced +0.18% in yesterday’s trading session, supported by growing expectations of upcoming Fed Rate and BI Rate cuts. Looking ahead, investor sentiment is expected to remain supported by developments surrounding the U.S. government shutdown and Indonesia’s successful issuance of dual-currency sovereign bonds—amounting to USD1.85 bn and EUR600 mn (SEC-registered format)—which are anticipated to bolster Rupiah appreciation and further lower domestic bond yields.

We anticipate a marginal decrease in the 10Y SUN yield today (10 Oct ‘25), projecting it to range between 5.98% and 6.18%.

 

Regards,
KBVS Research Team

 

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Unduh