One Pager Series — SIMINVEST Bond Pharos
Domestic bond markets remained relatively resilient despite mixed yield movements, with the 5Y–10Y curve steepening by 1.7 bps and INDOBeX Composite edging up 0.07%. Meanwhile, domestic consumption showed signs of stabilization as car sales surged 32.4% YoY, motorcycle sales grew 3.2% YoY, and consumer confidence rebounded to 118.5, although Brent above US$100/bbl amid escalating US-Iran tensions raises renewed inflation risks. On the corporate front, refinancing pressure remains manageable, with MEDC repaying Rp600bn of bonds and PLN set to settle Rp455bn of upcoming maturities using internal funds, supported by Rp34.36tn in cash and equivalents.