Indonesia’s government bond yields moved mixed, with the 5-year declining by 1.7 bps to 6.42% while the 10-year rising by 3.2 bps to 6.65%, resulting in a steeper yield curve, while sukuk yields also increased and the INDOBeX Composite edged slightly higher. On the macro side, gold prices strengthened amid a weaker US dollar and escalating geopolitical tensions in the Middle East, supporting safe-haven demand. Domestically, the SBSN auction recorded solid demand with a healthy bid-cover ratio, reflecting continued investor interest. On the credit side, PT Federal International Finance and PT Adira Dinamika Multi Finance are expected to comfortably meet their upcoming bond maturities, supported by strong liquidity and stable internal cash flows.