One Pager Series — SIMINVEST Bond Pharos
Indonesian government bonds weakened, with the 5Y yield (FR104) rising 7.0bps to 6.95% and the 10Y yield (FR0108) increasing 1.1bps to 7.22%, flattening the 5Y–10Y curve by 5.9bps, while the INDOBeX Composite fell 0.09% to 439.455. Global sentiment deteriorated after US headline CPI accelerated to 3.7% YoY in September, above expectations, driven by surging energy prices and persistent core inflation. Domestically, Indonesia’s external debt reached USD459.3bn in August, while the rupiah weakened to around IDR17,940 per USD, prompting Bank Indonesia to intervene in currency markets and purchase government securities in the secondary market. Foreign investors recorded net purchases of USD68.1mn in Indonesian bonds on October 13. On the corporate front, INKP plans to repay IDR338.34bn in bonds and IDR247.09bn in sukuk maturing on December 8, 2026, using proceeds from new bond issuances and internal funds.