In June 2024, the 10-Year US Treasury Yield fluctuated from 4.39% to 4.47% mid-month due to strong labor market data, then fell to 4.22% as the Fed adjusted its rate cut expectations, and eventually stabilized at 4.39%, while US inflation declined to a 3.3% YoY headline CPI in May. Concurrently, Indonesia experienced a 0.08% month-to-month deflation and a 2.51% year-on-year inflation driven mainly by food price fluctuations, with the 10-year government bond yield rising to 7.17% due to fiscal policy concerns before decreasing to 7.05% following budget announcements news aimed at maintaining a fiscal deficit below 3% of GDP. In the sukuk market, Indonesia saw a remarkable surge to IDR 4.4 trillion in June 2024, a 7.7-fold increase from the previous year, with the banking sector leading the market and PT. Bank Syariah Indonesia Tbk issuing the largest sukuk series. Additionally, the Indonesian corporate bond market witnessed a 334.8% year-over-year increase in issuance to IDR 12.9 trillion, with the Financial Institution sector at the forefront and PT. Tower Bersama Infrastructure Tbk issuing the largest bond series, while the average daily transaction volume reached IDR 1.5 trillion, surpassing the previous year’s average.