Fixed Income Daily One Pager Series — Daily Bond Lantern
Indonesian government bonds advanced, with the 5Y yield (FR104) falling 4.8bps to 7.34% and the 10Y yield (FR0108) declining 1.7bps to 7.32%, resulting in a steepening of the 5Y–10Y curve by 3.1bps, while the INDOBeX Composite edged up 0.02%. Market sentiment improved after the US and Iran refrained from launching attacks for a third consecutive night, raising hopes that diplomatic efforts could resume and easing immediate concerns over a broader regional conflict. Domestically, attention remained focused on monetary policy after Bank Indonesia Governor Perry Warjiyo unexpectedly resigned for undisclosed personal reasons, with Senior Deputy Governor Destry Damayanti appointed as acting governor pending the appointment of a permanent successor. The resignation, following the earlier departure of former Finance Minister Sri Mulyani Indrawati, has heightened investor concerns over the future independence and credibility of Indonesia’s economic policymaking. Meanwhile, the government is set to auction IDR10.0 trillion of SBSN on July 28, offering three SPN-S and five PBS series across maturities from September 2026 to December 2049. On the corporate front, PT Astra Sedaya Finance announced it will repay its IDR300.0 billion bond maturing on November 4, 2026, using internal funds, while PT Permodalan Nasional Madani (PNM) fully repaid its IDR100.0 billion sukuk upon maturity, resulting in the withdrawal of its rating.