Daily Economic Research

KBVS ECONOMIC RESEARCH
Monday, 20 July 2026

Macro Highlight :
The yield on the UST10Y eased to 4.52% (Prev: 4.60%) on Friday as the University of Michigan's one-year inflation expectations declined for a second consecutive month to 4.4% (Prev: 5.1%). Looking ahead, investors are expected to monitor the release of China PBoC Loan Prime Rate, Germany PPI, and the US Leading Index, alongside ongoing geopolitical developments, as key drivers of near-term market direction.

Lower US Treasury yields supported Indonesia's fixed income market, boosting demand for government bonds and pushing government bond yields lower, led by SUN1Y (-8.53 bps), SUN5Y (-1.63 bps), SUN30Y (-1.08 bps), and SUN15Y (-0.13 bps). Looking ahead, investors are expected to continue monitoring geopolitical developments as the key driver of near-term market direction.

We anticipate a marginal increase in the 10Y SUN yield today (20 Jul ‘26), projecting it to range between 7.14% and 7.34%.

 

Regards,
KBVS Research Team

 

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Unduh