Daily Economic Research

KBVS ECONOMIC RESEARCH
Friday, 20 December 2024

Macro Highlight :
The hawkish stance displayed by Jerome Powell amidst yesterday's 25 bps Fed rate cut drove global government bond yields higher during the trading session. Today, the release of key US real sector data, including headline and core PCE Price Index figures, is expected to influence global market sentiment significantly.

The domestic fixed income market remains under pressure, as evidenced by declines in both the ICBI and the ISIX, which fell by -0.05% in yesterday's trading session. The Rupiah's performance is likely to remain a key driver for the fixed income market today.  However, with the DXY rising by 0.18% to 108.4—its highest level since Nov 7, ‘22—concerns persist that continued Rupiah depreciation could sustain pressure on the fixed income market in the near term.

We anticipate an increase in the 10Y SUN yield today (20 Dec ‘24), projecting it to range between 7.01% and 7.21%.

 

Regards,
KBVS Research Team

 

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Unduh