One Pager Series — SIMINVEST Bond Pharos
Indonesian bond yields [curve move and INDOBeX Composite level to be filled from today’s recap]. On the macro front, headline CPI rose 0.21% mom in August to lift the annual rate to 3.19% from 2.88%, with core at 2.92% and food inflation at 3.86%, leaving inflation in the upper half of Bank Indonesia’s 1.5–3.5% band. Manufacturing PMI slipped back into contraction at 49.8 from July’s five-month high of 50.2, while July trade returned to a USD 0.13bn surplus against consensus for a deficit, though imports surged 27.02% yoy on higher oil prices. Elsewhere, US Treasury Secretary Bessent told Japanese officials that further BOJ rate hikes are needed, and PEFINDO cut PT Industri Kereta Api five notches to idBB from idA- with a Negative outlook on prolonged KCI delivery delays.