Fixed Income Daily Notes
October 01, 2018
Fixed Income Daily Notes
10.00
(-1 day)
7.45
7.76
7.92
8.06
8.18
8.06
8.32
8.22
8.31
8.18
8.39
8.65
9.20
(-1 week)
7.46
7.74
7.93
8.06
8.09
8.23
8.25
8.27
8.25
8.14
8.48
8.57
9.20
(-1 month)
6.84
7.21
7.44
7.58
7.75
7.76
7.95
7.96
7.95
7.93
8.07
8.38
8.56
9.00
Yield (%)
Indonesia Government Bonds Yield
Maturities (Year)
28-Sep
01
7.40
02
7.70
03
7.87
04
8.02
05
8.05
06
7.88
07
8.24
08
8.24
09
8.22
10
8.12
15
8.36
20
8.56
30
9.22
Source: Bloomberg
8.00
7.00
6.00
01
02
03
04
05
06
07
08
09
10
15
20
30
Maturities (Year)
28-Sep
(-1 day)
(-1 week)
(-1 month)
Global Market Update
Yesterday, September 27 2018, yield of US
10-years flat at 3.06%. On the other hand, global
benchmark bond yield moved downward after
investor shifting from Italian bond market because
of worsening Italia budget deficit. This movement
was indicated by 10-years UK gilt and German
Bunds, which fell to 1.57% and 0.46%.
Yield 10-years US Treasury note pada Jum’at, 28
September ditutup datar di level 3,06%. Pada pasar
obligasi global, mayoritas yield acuan global ditutup
turun, terlihat dari yield 10 tahun UK Gilt dan German
Bunds yang ditutup turun ke level 1,57% dan 0,46%
akibat berpindahnya investor dari pasar obligasi Italia
setelah realisasi penerimaan anggaran pemerintah
mereka yang mengecewakan.
Domestic Market Update
Government will issue IDR 4trillion of Islamic
government securities (SBSN) or Sukuk tomorrow,
October 02. There are 6 auctioned SBSN; SPN-S
03042019 (New Issuance), SPN-S 03072019
(New Issuance), PBS019 (New Issuance), PBS016
(Reopening), PBS012 (Reopening), and PBS015
(Reopening)
Pada hari Selasa, 02 Oktober 2018, pemerintah akan
mengadakan lelang Surat Berharga Syariah Negara
(SBSN) atau Sukuk dengan target Rp 4 triliun. Adapun
seri SBSN yang akan dilelang ialah SPN-S 03042019
(New Issuance), SPN-S 03072019 (New Issuance),
PBS019 (New Issuance), PBS016 (Reopening), PBS012
(Reopening), dan PBS015 (Reopening)
Today, Government bond prices on the secondary
market are likely to strengthen moderately as
Rupiah appreciation tendency. Rupiah will be
ranging from IDR 14,849 - 14,901 and yield of
10-years benchmark bond (FR0064) will be ranging from 8.07% - 8.13%.
Hari ini, pergerakan harga SBN secara umum di pasar
sekunder diprediksi cenderung masih akan menguat
terbatas yang didorong oleh perkiraan apresiasi Rupiah
di hari ini. Nilai tukar rupiah terhadap dolar AS
diprediksi bergerak pada kisaran Rp14.849 – Rp14.901,
sedangkan yield benchmark 10 tahun (FR0064) pada
perdagangan hari ini diperkirakan bergerak di rentang
8,07% - 8,13%.
October 01, 2018
Most Active Government Bonds
FR0063
FR0064
FR0070
FR0077
FR0075
FR0056
FR0078
SPN12190411
FR0065
FR0031
Global Stock Marketss
Indonesia (JCI)
Malaysia (KLCI)
Thailand (SET)
Singapore (STI)
Hang Seng
Nikkei 225
Shanghai
Dow Jones (DJIA)
London (FTSE 100)
DAX
Last Price
5977
1793
1756
3257
27789
24120
2821
26458
7510
12247
Last Price
Last Yield
91.26
87.76
101.42
101.10
90.50
101.20
102.95
96.87
86.50
106.55
7.92
7.97
6.84
7.88
8.50
8.17
7.00
6.05
8.23
7.59
Volume
(IDR bn)
3198
1788
1669
1428
1302
1129
1100
744
619
610
Chg (bps)
47.34
-5.49
3.46
20.79
72.85
323.30
29.57
18.38
-35.24
-188.86
% Chg
0.80%
-0.31%
0.20%
0.64%
0.26%
1.36%
1.06%
0.07%
-0.47%
-1.52%
% YTD
-5.96%
-0.20%
0.15%
-4.3%
-7.1%
5.95%
-14.69%
7.04%
-2.31%
-5.2%
28-Sep
14,901
1.303
113.7
1.367
32.33
4.139
(-1 day)
14,920
1.308
113.4
1.368
32.42
4.137
28-Sep
(-1 week)
14,852
1.308
112.6
1.364
32.44
4.133
Aug-18
-0.05
3.20
2.90
5.50
117.9
Jul-18
0.28
3.18
2.87
5.25
118.3
Jun-18
0.59
3.12
2.72
5.25
119.8
FX Rate
USD/IDR
GBP/USD
USD/JPY
USD/SGD
USD/THB
USD/MYR
Macroeconomic Data
Consumer Price Index (MoM)
Consumer Price Index (YoY)
Core Inflation (YoY)
BI 7-Day RR Rate (%)
Foreign Reserve (US$ Bn)
Indonesia Sovereign CDS
As of
28-Sep
(-1 Day)
(-1 Week)
(-1 Month)
(-1 Year)
2-year
59.02
62.17
59.52
46.76
42.20
5-year
130.28
131.35
132.62
127.33
104.05
10-year
210.47
207.67
211.54
208.83
172.79
Most Active Corporate Bonds
ADMF04CCN3
MEDC03ACN2
WSKT03ACN3
MEDC03ACN1
WSKT03BCN3
BEXI04ACN2
SMFP04ACN4
ISAT02ACN3
ASDF04ACN1
NISP03ACN1
Last Yield
idAAA
idA+
A-(idn)
idA+
A-(idn)
idAAA
idAAA
idAAA
AAA(idn)
idAAA
100.05
100.00
100.00
100.00
99.20
100.12
98.62
98.97
98.40
100.17
8.48
10.47
9.00
8.61
9.96
6.86
8.25
5.20
5.34
6.53
28-Sep
(-1 day)
2.25
2.55
2.73
3.06
2.95
2.00
2.53
2.72
3.05
2.96
2.00
2.51
2.72
3.06
2.97
2.00
2.49
2.76
2.86
3.07
1.57
0.47
0.80
3.62
0.12
2.73
2.81
4.06
2.49
1.60
0.53
0.84
3.63
0.11
2.73
2.81
4.07
2.50
1.55
0.46
0.78
3.68
0.13
2.73
2.85
4.08
2.55
1.43
0.33
0.68
3.58
0.10
2.73
2.74
4.04
2.37
3.87
4.51
5.09
3.87
4.52
5.12
3.91
4.52
5.15
3.75
4.35
4.89
28-Sep
(-1 day)
5.65
6.99
5.40
6.74
5.44
6.70
5.40
6.70
7.35
7.14
7.13
7.12
2.23
2.38
2.60
2.23
2.38
2.60
2.18
2.35
2.57
2.08
2.31
2.53
5.98
13.5
6.01
13.6
5.91
13.6
5.83
13.6
28-Sep
96.99
92.73
92.43
97.63
(-1 day)
96.90
92.21
92.34
97.35
Change
10
53
9
28
Yield
7.97%
8.19%
8.44%
8.51%
Global Bonds
Fed Fund Rate & US T-Bonds Yield
Fed Fund Rate
2-Year
5-Year
10-Year
30-Year
10-Year Government Bond Yield
UK
Germany
France
China
Japan
Korea
Thailand
Malaysia
Singapore
Indonesia USD Bond Yield
INDO-22
INDO-27
INDO-47
Money Market
JIBOR
O/N
1M
3M
LIBOR
1M
3M
6M
Indonesia Interest Rates
Deposit 1M
Lending
Benchmark
FR0061
FR0059
FR0074
FR0072
Volume
(IDR bn)
400
291
227
200
150
149
140
126
100
100
Last Price
28-Sep
(-1 week) (- 1 month)
28-Sep
(-1 week) (- 1 month)
Government Bond Ownership As of September 27, 2018 (in Trillion)
Holders
2013
Banks
335.43
Bank Indonesia
44.44
Mutual Fund
42.50
Insurance
129.55
Foreign Investor
323.83
Pension Fund
39.47
Individual Investors
32.48
Others
47.56
Total
995.25
Source: Bloomberg, IDX & DJPPR
2014
375.55
41.63
45.79
150.60
461.35
43.30
30.41
61.32
1,209.96
2015
350.07
148.91
61.60
171.62
558.52
49.83
42.53
78.76
1,461.85
2016
399.46
134.25
85.66
238.24
665.81
87.28
57.75
104.84
1,773.28
2017
491.61
141.83
104.00
150.80
836.15
198.06
59.84
117.48
2,099.77
24-Sep-18
603.06
117.57
117.26
191.47
843.82
215.39
64.26
133.82
2,286.64
25-Sep-18
601.05
118.94
117.02
191.55
844.69
215.43
64.29
133.68
2,286.64
26-Sep-18
600.61
119.67
117.05
191.58
844.47
215.36
64.26
133.65
2,286.64
27-Sep-18
631.48
102.72
117.73
191.59
849.43
215.66
64.27
133.75
2,306.64
October 01, 2018
Government Bonds Prices
Closing Price Data : 28-Sep-2018
Series
FR0069
FR0036
FR0031
FR0034
FR0053
FR0061
FR0035
FR0043
FR0063
FR0046
FR0039
FR0070
FR0044
FR0040
FR0037
FR0056
FR0059
FR0042
FR0047
FR0064
FR0071
FR0052
FR0073
FR0054
FR0058
FR0074
FR0065
FR0068
FR0072
FR0045
FR0075
FR0050
FR0057
FR0062
FR0067
FR0076
Maturity
15-Apr-19
15-Sep-19
15-Nov-20
15-Jun-21
15-Jul-21
15-May-22
15-Jun-22
15-Jul-22
15-May-23
15-Jul-23
15-Aug-23
15-Mar-24
15-Sep-24
15-Sep-25
15-Sep-26
15-Sep-26
15-May-27
15-Jul-27
15-Feb-28
15-May-28
15-Mar-29
15-Aug-30
15-May-31
15-Jul-31
15-Jun-32
15-Aug-32
15-May-33
15-Mar-34
15-May-36
15-May-37
15-May-38
15-Jul-38
15-May-41
15-Apr-42
15-Jul-43
15-May-48
TTM
0.55
0.96
2.13
2.72
2.80
3.63
3.72
3.80
4.63
4.80
4.88
5.47
5.97
6.97
7.97
7.97
8.63
8.80
9.39
9.64
10.47
11.89
12.64
12.80
13.72
13.89
14.64
15.47
17.64
18.64
19.64
19.81
22.64
23.56
24.81
29.65
Source: Bloomberg, IBPA & MCS Estimates
Coupon
7.875%
11.500%
11.000%
12.800%
8.250%
7.000%
12.900%
10.250%
5.625%
9.500%
11.750%
8.375%
10.000%
11.000%
12.000%
8.375%
7.000%
10.250%
10.000%
6.125%
9.000%
10.500%
8.750%
9.500%
8.250%
7.500%
6.625%
8.375%
8.250%
9.750%
7.500%
10.500%
9.500%
6.375%
8.750%
7.375%
Price
100.52
103.87
106.61
112.16
101.07
96.99
114.99
106.76
90.94
105.44
114.49
100.49
108.58
114.66
121.33
101.17
92.73
111.75
110.90
86.92
104.88
115.00
102.56
108.75
98.00
92.43
85.78
99.18
97.63
106.73
90.26
115.02
105.90
75.02
98.98
83.46
YTM
6.86%
7.22%
7.56%
7.72%
7.81%
7.97%
8.12%
8.13%
8.01%
8.10%
8.09%
8.26%
8.15%
8.19%
8.29%
8.17%
8.19%
8.33%
8.30%
8.11%
8.29%
8.47%
8.42%
8.37%
8.50%
8.44%
8.32%
8.47%
8.51%
8.93%
8.53%
8.87%
8.89%
8.93%
8.85%
9.20%
Price (-1)
100.50
103.85
106.48
111.83
100.98
96.90
115.05
106.70
90.50
105.08
113.99
100.48
107.99
114.26
121.33
101.19
92.21
111.75
110.90
86.66
104.66
115.00
101.13
108.33
98.00
92.34
85.57
98.87
97.35
107.324
89.52
115.02
105.90
75.02
98.71
82.73
Price Spread (bps)
2.5
1.5
12.7
33.3
8.6
9.8
-5.5
5.9
43.5
36.5
50.6
0.7
58.7
40.0
0.0
-2.1
52.6
0.0
0.0
26.1
21.8
0.0
142.7
42.5
0.0
8.6
20.6
30.4
27.6
-59.2
74.7
0.0
0.0
0.0
26.9
73.2
October 01, 2018
Macroeconomic Indicator
IndicatorCalendar
Calendar
(19 - 2301
Maret
2018)05 2018)
Macroeconomic
(October
- October
INDONESIA
Date
Indicator
Series
Data
Actual
Previous
Projection
01
Inflation Rate (MoM)
Sep-18
-
3.20%
3.33%
01
Inflation Rate (YoY)
Sep-18
-
-0.05%
0.26%
01
Core Inflation Rate (YoY)
Sep-18
-
2.90%
3.00%
04
Consumer Confidence
Sep-18
-
121.6
122.2
05
Foreign Exchange Reserves
Sep-18
-
USD 117.9 billion USD 117.5 billion
GLOBAL
Date
Indicator
01
Unemployment Rate
01 ISM Manufacturing PMI
Country Series Data
Actual
Previous
Projection
Euro Area
Aug-18
-
8.2%
8.2%
US
Sep-18
-
61.3
59.0
163 thousand
193 thousand
03
ADP Employment
Change
US
Sep-18
-
03
Crude Oil Inventory
US
Week Ended,
Sep 28 - 2018
-
04
Initial Jobless Claims
US
Week Ended,
Sep 29-2018
-
214 thousand
212 thousand
04
Continuing Jobless
Claims
US
Week Ended,
Sep 22-2018
-
1661 thousand
1651 thousand
05
Balance of Trade
US
Aug-18
-
USD -50.1 billion
USD -50.3 billion
05
Non-Farm Payrolls
US
Sep-18
-
201 thousand
195 thousand
05
Unemployment Rate
US
Sep-18
-
3.9%
3.9%
Source: Tradingeconomics, Bloomberg, and MCS Estimates (2018)
1.85 million barrel -0.66 million barrel
October 01, 2018
PT. MEGA CAPITAL SEKURITAS
Head Office
Menara Bank Mega Lt. 2
Jl. Kapten P. Tendean Kav 12-14A
Jakarta 12790
Dealing Room
Phone No
: +62 21 7995795
Fax No
: +62 21 79175965
Eva Sarah Hutabarat
eva@megasekuritas.id
Head of Debt Capital
Market
Cicih Sukaesih
cicih@megasekuritas.id
Debt Sales
Emilda Mardiyanti
emilda.mardiyanti@megasekuritas.id
Debt Sales
Ajeng Palupi P.
palupi@megasekuritas.id
Debt Sales
Qolbie Ardie
qolbie@megasekuritas.id
Economist &
Fixed Income Analyst
Siti Maulina M.
siti.maulina@megasekuritas.id
Administrative
Assistant
DISCLAIMER
This Document is for information only and for the use of the recipient. It is not to be reproduced or copied or made available to others. Under no
circumstances is it to be considered as an offer to sell or solicitation to buy any security. Any recommendation contained in this report may not be
suitable for all investors and strictly a personal view and should not be used as a sole judgment for investment. Moreover, although the information
contained herein has been obtained from sources believed to be reliable, its accuracy, completeness and reliability cannot be guaranteed. All rights
reserved by PT Mega Capital Sekuritas.
Fixed Income Daily Notes
10.00
(-1 day)
7.45
7.76
7.92
8.06
8.18
8.06
8.32
8.22
8.31
8.18
8.39
8.65
9.20
(-1 week)
7.46
7.74
7.93
8.06
8.09
8.23
8.25
8.27
8.25
8.14
8.48
8.57
9.20
(-1 month)
6.84
7.21
7.44
7.58
7.75
7.76
7.95
7.96
7.95
7.93
8.07
8.38
8.56
9.00
Yield (%)
Indonesia Government Bonds Yield
Maturities (Year)
28-Sep
01
7.40
02
7.70
03
7.87
04
8.02
05
8.05
06
7.88
07
8.24
08
8.24
09
8.22
10
8.12
15
8.36
20
8.56
30
9.22
Source: Bloomberg
8.00
7.00
6.00
01
02
03
04
05
06
07
08
09
10
15
20
30
Maturities (Year)
28-Sep
(-1 day)
(-1 week)
(-1 month)
Global Market Update
Yesterday, September 27 2018, yield of US
10-years flat at 3.06%. On the other hand, global
benchmark bond yield moved downward after
investor shifting from Italian bond market because
of worsening Italia budget deficit. This movement
was indicated by 10-years UK gilt and German
Bunds, which fell to 1.57% and 0.46%.
Yield 10-years US Treasury note pada Jum’at, 28
September ditutup datar di level 3,06%. Pada pasar
obligasi global, mayoritas yield acuan global ditutup
turun, terlihat dari yield 10 tahun UK Gilt dan German
Bunds yang ditutup turun ke level 1,57% dan 0,46%
akibat berpindahnya investor dari pasar obligasi Italia
setelah realisasi penerimaan anggaran pemerintah
mereka yang mengecewakan.
Domestic Market Update
Government will issue IDR 4trillion of Islamic
government securities (SBSN) or Sukuk tomorrow,
October 02. There are 6 auctioned SBSN; SPN-S
03042019 (New Issuance), SPN-S 03072019
(New Issuance), PBS019 (New Issuance), PBS016
(Reopening), PBS012 (Reopening), and PBS015
(Reopening)
Pada hari Selasa, 02 Oktober 2018, pemerintah akan
mengadakan lelang Surat Berharga Syariah Negara
(SBSN) atau Sukuk dengan target Rp 4 triliun. Adapun
seri SBSN yang akan dilelang ialah SPN-S 03042019
(New Issuance), SPN-S 03072019 (New Issuance),
PBS019 (New Issuance), PBS016 (Reopening), PBS012
(Reopening), dan PBS015 (Reopening)
Today, Government bond prices on the secondary
market are likely to strengthen moderately as
Rupiah appreciation tendency. Rupiah will be
ranging from IDR 14,849 - 14,901 and yield of
10-years benchmark bond (FR0064) will be ranging from 8.07% - 8.13%.
Hari ini, pergerakan harga SBN secara umum di pasar
sekunder diprediksi cenderung masih akan menguat
terbatas yang didorong oleh perkiraan apresiasi Rupiah
di hari ini. Nilai tukar rupiah terhadap dolar AS
diprediksi bergerak pada kisaran Rp14.849 – Rp14.901,
sedangkan yield benchmark 10 tahun (FR0064) pada
perdagangan hari ini diperkirakan bergerak di rentang
8,07% - 8,13%.
October 01, 2018
Most Active Government Bonds
FR0063
FR0064
FR0070
FR0077
FR0075
FR0056
FR0078
SPN12190411
FR0065
FR0031
Global Stock Marketss
Indonesia (JCI)
Malaysia (KLCI)
Thailand (SET)
Singapore (STI)
Hang Seng
Nikkei 225
Shanghai
Dow Jones (DJIA)
London (FTSE 100)
DAX
Last Price
5977
1793
1756
3257
27789
24120
2821
26458
7510
12247
Last Price
Last Yield
91.26
87.76
101.42
101.10
90.50
101.20
102.95
96.87
86.50
106.55
7.92
7.97
6.84
7.88
8.50
8.17
7.00
6.05
8.23
7.59
Volume
(IDR bn)
3198
1788
1669
1428
1302
1129
1100
744
619
610
Chg (bps)
47.34
-5.49
3.46
20.79
72.85
323.30
29.57
18.38
-35.24
-188.86
% Chg
0.80%
-0.31%
0.20%
0.64%
0.26%
1.36%
1.06%
0.07%
-0.47%
-1.52%
% YTD
-5.96%
-0.20%
0.15%
-4.3%
-7.1%
5.95%
-14.69%
7.04%
-2.31%
-5.2%
28-Sep
14,901
1.303
113.7
1.367
32.33
4.139
(-1 day)
14,920
1.308
113.4
1.368
32.42
4.137
28-Sep
(-1 week)
14,852
1.308
112.6
1.364
32.44
4.133
Aug-18
-0.05
3.20
2.90
5.50
117.9
Jul-18
0.28
3.18
2.87
5.25
118.3
Jun-18
0.59
3.12
2.72
5.25
119.8
FX Rate
USD/IDR
GBP/USD
USD/JPY
USD/SGD
USD/THB
USD/MYR
Macroeconomic Data
Consumer Price Index (MoM)
Consumer Price Index (YoY)
Core Inflation (YoY)
BI 7-Day RR Rate (%)
Foreign Reserve (US$ Bn)
Indonesia Sovereign CDS
As of
28-Sep
(-1 Day)
(-1 Week)
(-1 Month)
(-1 Year)
2-year
59.02
62.17
59.52
46.76
42.20
5-year
130.28
131.35
132.62
127.33
104.05
10-year
210.47
207.67
211.54
208.83
172.79
Most Active Corporate Bonds
ADMF04CCN3
MEDC03ACN2
WSKT03ACN3
MEDC03ACN1
WSKT03BCN3
BEXI04ACN2
SMFP04ACN4
ISAT02ACN3
ASDF04ACN1
NISP03ACN1
Last Yield
idAAA
idA+
A-(idn)
idA+
A-(idn)
idAAA
idAAA
idAAA
AAA(idn)
idAAA
100.05
100.00
100.00
100.00
99.20
100.12
98.62
98.97
98.40
100.17
8.48
10.47
9.00
8.61
9.96
6.86
8.25
5.20
5.34
6.53
28-Sep
(-1 day)
2.25
2.55
2.73
3.06
2.95
2.00
2.53
2.72
3.05
2.96
2.00
2.51
2.72
3.06
2.97
2.00
2.49
2.76
2.86
3.07
1.57
0.47
0.80
3.62
0.12
2.73
2.81
4.06
2.49
1.60
0.53
0.84
3.63
0.11
2.73
2.81
4.07
2.50
1.55
0.46
0.78
3.68
0.13
2.73
2.85
4.08
2.55
1.43
0.33
0.68
3.58
0.10
2.73
2.74
4.04
2.37
3.87
4.51
5.09
3.87
4.52
5.12
3.91
4.52
5.15
3.75
4.35
4.89
28-Sep
(-1 day)
5.65
6.99
5.40
6.74
5.44
6.70
5.40
6.70
7.35
7.14
7.13
7.12
2.23
2.38
2.60
2.23
2.38
2.60
2.18
2.35
2.57
2.08
2.31
2.53
5.98
13.5
6.01
13.6
5.91
13.6
5.83
13.6
28-Sep
96.99
92.73
92.43
97.63
(-1 day)
96.90
92.21
92.34
97.35
Change
10
53
9
28
Yield
7.97%
8.19%
8.44%
8.51%
Global Bonds
Fed Fund Rate & US T-Bonds Yield
Fed Fund Rate
2-Year
5-Year
10-Year
30-Year
10-Year Government Bond Yield
UK
Germany
France
China
Japan
Korea
Thailand
Malaysia
Singapore
Indonesia USD Bond Yield
INDO-22
INDO-27
INDO-47
Money Market
JIBOR
O/N
1M
3M
LIBOR
1M
3M
6M
Indonesia Interest Rates
Deposit 1M
Lending
Benchmark
FR0061
FR0059
FR0074
FR0072
Volume
(IDR bn)
400
291
227
200
150
149
140
126
100
100
Last Price
28-Sep
(-1 week) (- 1 month)
28-Sep
(-1 week) (- 1 month)
Government Bond Ownership As of September 27, 2018 (in Trillion)
Holders
2013
Banks
335.43
Bank Indonesia
44.44
Mutual Fund
42.50
Insurance
129.55
Foreign Investor
323.83
Pension Fund
39.47
Individual Investors
32.48
Others
47.56
Total
995.25
Source: Bloomberg, IDX & DJPPR
2014
375.55
41.63
45.79
150.60
461.35
43.30
30.41
61.32
1,209.96
2015
350.07
148.91
61.60
171.62
558.52
49.83
42.53
78.76
1,461.85
2016
399.46
134.25
85.66
238.24
665.81
87.28
57.75
104.84
1,773.28
2017
491.61
141.83
104.00
150.80
836.15
198.06
59.84
117.48
2,099.77
24-Sep-18
603.06
117.57
117.26
191.47
843.82
215.39
64.26
133.82
2,286.64
25-Sep-18
601.05
118.94
117.02
191.55
844.69
215.43
64.29
133.68
2,286.64
26-Sep-18
600.61
119.67
117.05
191.58
844.47
215.36
64.26
133.65
2,286.64
27-Sep-18
631.48
102.72
117.73
191.59
849.43
215.66
64.27
133.75
2,306.64
October 01, 2018
Government Bonds Prices
Closing Price Data : 28-Sep-2018
Series
FR0069
FR0036
FR0031
FR0034
FR0053
FR0061
FR0035
FR0043
FR0063
FR0046
FR0039
FR0070
FR0044
FR0040
FR0037
FR0056
FR0059
FR0042
FR0047
FR0064
FR0071
FR0052
FR0073
FR0054
FR0058
FR0074
FR0065
FR0068
FR0072
FR0045
FR0075
FR0050
FR0057
FR0062
FR0067
FR0076
Maturity
15-Apr-19
15-Sep-19
15-Nov-20
15-Jun-21
15-Jul-21
15-May-22
15-Jun-22
15-Jul-22
15-May-23
15-Jul-23
15-Aug-23
15-Mar-24
15-Sep-24
15-Sep-25
15-Sep-26
15-Sep-26
15-May-27
15-Jul-27
15-Feb-28
15-May-28
15-Mar-29
15-Aug-30
15-May-31
15-Jul-31
15-Jun-32
15-Aug-32
15-May-33
15-Mar-34
15-May-36
15-May-37
15-May-38
15-Jul-38
15-May-41
15-Apr-42
15-Jul-43
15-May-48
TTM
0.55
0.96
2.13
2.72
2.80
3.63
3.72
3.80
4.63
4.80
4.88
5.47
5.97
6.97
7.97
7.97
8.63
8.80
9.39
9.64
10.47
11.89
12.64
12.80
13.72
13.89
14.64
15.47
17.64
18.64
19.64
19.81
22.64
23.56
24.81
29.65
Source: Bloomberg, IBPA & MCS Estimates
Coupon
7.875%
11.500%
11.000%
12.800%
8.250%
7.000%
12.900%
10.250%
5.625%
9.500%
11.750%
8.375%
10.000%
11.000%
12.000%
8.375%
7.000%
10.250%
10.000%
6.125%
9.000%
10.500%
8.750%
9.500%
8.250%
7.500%
6.625%
8.375%
8.250%
9.750%
7.500%
10.500%
9.500%
6.375%
8.750%
7.375%
Price
100.52
103.87
106.61
112.16
101.07
96.99
114.99
106.76
90.94
105.44
114.49
100.49
108.58
114.66
121.33
101.17
92.73
111.75
110.90
86.92
104.88
115.00
102.56
108.75
98.00
92.43
85.78
99.18
97.63
106.73
90.26
115.02
105.90
75.02
98.98
83.46
YTM
6.86%
7.22%
7.56%
7.72%
7.81%
7.97%
8.12%
8.13%
8.01%
8.10%
8.09%
8.26%
8.15%
8.19%
8.29%
8.17%
8.19%
8.33%
8.30%
8.11%
8.29%
8.47%
8.42%
8.37%
8.50%
8.44%
8.32%
8.47%
8.51%
8.93%
8.53%
8.87%
8.89%
8.93%
8.85%
9.20%
Price (-1)
100.50
103.85
106.48
111.83
100.98
96.90
115.05
106.70
90.50
105.08
113.99
100.48
107.99
114.26
121.33
101.19
92.21
111.75
110.90
86.66
104.66
115.00
101.13
108.33
98.00
92.34
85.57
98.87
97.35
107.324
89.52
115.02
105.90
75.02
98.71
82.73
Price Spread (bps)
2.5
1.5
12.7
33.3
8.6
9.8
-5.5
5.9
43.5
36.5
50.6
0.7
58.7
40.0
0.0
-2.1
52.6
0.0
0.0
26.1
21.8
0.0
142.7
42.5
0.0
8.6
20.6
30.4
27.6
-59.2
74.7
0.0
0.0
0.0
26.9
73.2
October 01, 2018
Macroeconomic Indicator
IndicatorCalendar
Calendar
(19 - 2301
Maret
2018)05 2018)
Macroeconomic
(October
- October
INDONESIA
Date
Indicator
Series
Data
Actual
Previous
Projection
01
Inflation Rate (MoM)
Sep-18
-
3.20%
3.33%
01
Inflation Rate (YoY)
Sep-18
-
-0.05%
0.26%
01
Core Inflation Rate (YoY)
Sep-18
-
2.90%
3.00%
04
Consumer Confidence
Sep-18
-
121.6
122.2
05
Foreign Exchange Reserves
Sep-18
-
USD 117.9 billion USD 117.5 billion
GLOBAL
Date
Indicator
01
Unemployment Rate
01 ISM Manufacturing PMI
Country Series Data
Actual
Previous
Projection
Euro Area
Aug-18
-
8.2%
8.2%
US
Sep-18
-
61.3
59.0
163 thousand
193 thousand
03
ADP Employment
Change
US
Sep-18
-
03
Crude Oil Inventory
US
Week Ended,
Sep 28 - 2018
-
04
Initial Jobless Claims
US
Week Ended,
Sep 29-2018
-
214 thousand
212 thousand
04
Continuing Jobless
Claims
US
Week Ended,
Sep 22-2018
-
1661 thousand
1651 thousand
05
Balance of Trade
US
Aug-18
-
USD -50.1 billion
USD -50.3 billion
05
Non-Farm Payrolls
US
Sep-18
-
201 thousand
195 thousand
05
Unemployment Rate
US
Sep-18
-
3.9%
3.9%
Source: Tradingeconomics, Bloomberg, and MCS Estimates (2018)
1.85 million barrel -0.66 million barrel
October 01, 2018
PT. MEGA CAPITAL SEKURITAS
Head Office
Menara Bank Mega Lt. 2
Jl. Kapten P. Tendean Kav 12-14A
Jakarta 12790
Dealing Room
Phone No
: +62 21 7995795
Fax No
: +62 21 79175965
Eva Sarah Hutabarat
eva@megasekuritas.id
Head of Debt Capital
Market
Cicih Sukaesih
cicih@megasekuritas.id
Debt Sales
Emilda Mardiyanti
emilda.mardiyanti@megasekuritas.id
Debt Sales
Ajeng Palupi P.
palupi@megasekuritas.id
Debt Sales
Qolbie Ardie
qolbie@megasekuritas.id
Economist &
Fixed Income Analyst
Siti Maulina M.
siti.maulina@megasekuritas.id
Administrative
Assistant
DISCLAIMER
This Document is for information only and for the use of the recipient. It is not to be reproduced or copied or made available to others. Under no
circumstances is it to be considered as an offer to sell or solicitation to buy any security. Any recommendation contained in this report may not be
suitable for all investors and strictly a personal view and should not be used as a sole judgment for investment. Moreover, although the information
contained herein has been obtained from sources believed to be reliable, its accuracy, completeness and reliability cannot be guaranteed. All rights
reserved by PT Mega Capital Sekuritas.