One Pager Series — SIMINVEST Bond Pharos
Indonesian government bond yields closed mixed, with the 5Y–10Y spread narrowing by 5.6 bps. FR0059 (1Y) declined 0.9 bps to 6.67%, FR0104 (5Y) rose 0.6 bps to 7.22%, FR0108 (10Y) fell 5.0 bps to 7.58%, FR0106 (15Y) eased 2.2 bps to 7.65%, and FR0107 (20Y) increased 1.7 bps to 7.68%. Sukuk yields also moved mixed, while the INDOBeX Composite gained 0.11% to 430.848. On the macroeconomic front, US October nonfarm payrolls increased by 165K, exceeding the 65K consensus, while unemployment declined to 4.1%. Domestically, consumer confidence improved to 119.9, its highest level since May, although automotive sales growth moderated, with motorcycle and car sales rising 7.9% and 10.1% y/y, respectively. The government is scheduled to auction three SPN and six FR series, including the new FR0113 (April 2047), with its coupon to be determined on November 10. In corporate fixed income developments, BVIC and ADMF fully repaid maturing debt amounting to IDR150 billion and IDR434 billion, respectively, on November 9, prompting PEFINDO to withdraw the associated credit ratings.