Fixed Income Daily Notes
July 11, 2018
Fixed Income Daily Notes
8.50
(-1 day)
7.01
7.36
7.34
7.40
7.40
7.50
7.77
7.56
7.57
7.45
7.94
7.98
7.82
(-1 week)
7.41
7.59
7.75
7.73
7.71
8.08
8.11
8.08
8.14
7.85
8.31
8.22
7.82
(-1 month)
6.59
6.82
6.97
6.98
6.95
7.21
7.27
7.30
7.31
7.26
7.66
7.69
8.10
7.50
Yield (%)
Indonesia Government Bonds Yield
Maturities (Year)
10-Jul
01
6.96
02
7.24
03
7.30
04
7.34
05
7.36
06
7.45
07
7.77
08
7.55
09
7.51
10
7.37
15
7.78
20
7.94
30
8.29
Source: Bloomberg
6.50
5.50
4.50
01
02
03
04
05
06
07
08
09
10
15
20
30
Maturities (Year)
10-Jul
(-1 day)
(-1 week)
(-1 month)
Global Market Update
At Tuesday, July 10, US treasury yield fell to
2.85% because higher trade war tension. On
the other hand, global benchmark bond yield
move upward, indicated by 10-years UK gilt
and 10-years German yield rose to 1.30%,
and 0.37%.
Yield US Treasury pada hari Selasa, 10 Juli 2018
ditutup turun ke level 2,85% akibat tensi perang
dagang yang semakin meningkat. Di sisi lain, dari
pasar obligasi global, yield acuan global cenderung
ditutup naik, terlihat dari yield 10 tahun UK Gilt
dan German Bund yang ditutup naik ke level
1,30% dan 0,37%.
Domestic Market Update
Yesterday, July 10 2018, The government
absorbed IDR 8 trillion in the last Islamic
government securities (SBSN) or Sukuk
auction from total incoming bids IDR 12.54
trillion. The absorbed amount was above
government’s indicative target, IDR 4 trillion.
Moreover, incoming bids posted higher level
than last auction, IDR 7.15 trillion.
Meanwhile, SPNS11012019 became the most
interesting series in the auction with an
incoming bids IDR 5.08 trillion.
Kemarin, 10 Juli 2018, pemerintah berhasil
menyerap Rp 8 triliun dana dari investor dalam
lelang Surat Berharga Syariah Negara (SBSN)
kemarin dengan tingkat penawaran yang masuk
(incoming bids) mencapai Rp 12,54 triliun. Jumlah
dana yang diserap berada di atas target minimum
pemerintah sebesar Rp 4 triliun, dan jumlah
incoming bids pada lelang kemarin lebih tinggi
dibandingkan dengan lelang SBSN sebelumnya
yang mencapai Rp 7,15 triliun. Sementara itu, seri
SPNS11012019 menjadi seri yang paling banyak
diminati oleh investor dengan tingkat penawaran
yang masuk mencapai Rp 5,08 triliun.
Today, Government bond prices on the
secondary market are likely to flattened
amidst of lower US 10-year treasury yield and
Rupiah depreciation tendency. Rupiah will be
ranging from IDR 14,307—14,324 and yield of
10 year benchmark bond (FR0064) will be
ranging from 7.22% - 7.40%.
Hari ini, pergerakan harga SBN secara umum di
pasar sekunder diprediksi cenderung datar di
tengah turunnya yield AS dan kecenderungan
melemahnya Rupiah. Nilai tukar rupiah terhadap
dolar AS diprediksi bergerak
pada kisaran
Rp14.307 – Rp14.324 sedangkan yield benchmark
10 tahun (FR0064) pada perdagangan hari ini
diperkirakan bergerak di rentang 7,22% - 7,40%.
July 11, 2018
Last Price
Last Yield
99.30
102.80
90.25
104.25
100.90
93.50
104.50
100.50
97.80
92.20
7.21
7.20
7.74
7.44
6.62
7.24
7.78
6.92
6.81
7.25
Volume
(IDR bn)
1722
1685
1236
1158
937
675
629
616
585
561
Chg (bps)
74.39
14.50
20.64
46.01
-6.25
144.71
12.51
143.07
4.05
65.96
% Chg
1.28%
0.87%
1.27%
1.42%
-0.02%
0.66%
0.44%
0.58%
0.05%
0.53%
% YTD
-7.46%
-6.10%
-6.28%
-3.8%
-4.1%
-2.50%
-14.50%
0.81%
0.06%
-2.4%
10-Jul
14,307
1.328
111.0
1.357
33.17
4.028
(-1 day)
14,296
1.326
110.9
1.357
33.07
4.030
10-Jul
(-1 week)
14,360
1.319
110.6
1.365
33.15
4.042
Consumer Price Index (MoM)
Consumer Price Index (YoY)
Core Inflation (YoY)
BI 7-Day RR Rate (%)
Foreign Reserve (US$ Bn)
Jun-18
0.59
3.12
2.72
5.25
119.8
May-18
0.21
3.23
2.75
4.75
122.9
Apr-18
0.10
3.41
2.69
4.25
124.9
Indonesia Sovereign CDS
As of
2-year
5-year
10-year
JIBOR
O/N
1M
3M
LIBOR
1M
10-Jul
(-1 Day)
(-1 Week)
(-1 Month)
(-1 Year)
47.44
48.29
53.50
50.88
47.39
123.54
125.81
136.45
126.29
119.85
207.2
210.28
220.09
205.12
188.28
3M
6M
Indonesia Interest Rates
Deposit 1M
Lending
Most Active Government Bonds
FR0061
FR0053
FR0065
FR0070
FR0069
FR0063
FR0072
FR0059
SR010
FR0064
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
5882
1687
1644
3275
28682
22197
2828
24920
7692
12610
FX Rate
USD/IDR
GBP/USD
USD/JPY
USD/SGD
USD/THB
USD/MYR
Macroeconomic Data
Most Active Corporate Bonds
FIFA03BCN3
PNMP02ACN2
AMRT02CN2
SANF02BCN1
ISAT02DCN3
ISAT08A
PTHK01CN2
APLN01CN2
ISAT01BCN1
ISAT02ACN3
Last Yield
idAAA
idA
AA-(idn)
idAAidAAA
idAAA
idAAA(gg)
idAidAAA
idAAA
100.00
100.15
100.10
101.67
100.20
101.32
99.55
103.75
103.58
98.88
7.45
7.94
7.46
7.08
8.16
7.18
8.14
7.88
7.61
7.49
10-Jul
(-1 day)
2.00
2.552
2.729
2.851
2.95
2.00
2.526
2.722
2.86
2.96
2.00
2.51
2.72
2.83
2.97
1.75
2.49
2.76
2.96
3.07
1.300
0.371
0.65
3.54
0.038
2.73
2.59
4.08
2.44
1.251
0.298
0.64
3.54
0.033
2.73
2.58
4.10
2.43
1.24
0.29
0.64
3.50
0.03
2.73
2.56
4.20
2.48
1.40
0.49
0.88
3.68
0.05
2.73
2.54
4.22
2.61
3.82
4.33
5.03
3.85
4.38
5.09
3.94
4.52
5.23
3.96
4.46
5.21
10-Jul
(-1 day)
4.94
7.19
7.35
4.91
7.18
7.35
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
Benchmark
FR0061
FR0059
FR0074
FR0072
Volume
(IDR bn)
720
220
100
94
75
74
60
52
50
40
Last Price
10-Jul
(-1 week) (- 1 month)
10-Jul
(-1 week) (- 1 month)
4.79
7.14
7.31
6.06
7.03
7.16
2.09
2.09
2.09
2.05
2.34
2.51
2.34
2.51
2.34
2.50
2.33
2.49
5.74
14.1
5.71
14.3
5.64
14.3
5.63
13.7
10-Jul
99.23
97.15
96.27
102.36
(-1 day)
98.88
96.59
95.83
101.90
Change
35
57
44
45
Yield
7.23%
7.44%
7.94%
8.00%
Government Bond Ownership As of July 09, 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
4-Jul-18
522.90
147.44
111.5
173.0
829.22
220.30
62.20
131.39
2,197.92
5-Jul-18
525.32
155.95
111.5
172.6
829.78
220.40
62.28
131.39
2,209.24
6-Jul-18
524.25
154.04
111.5
173.6
831.71
220.49
62.38
131.27
2,209.24
9-Jul-18
542.07
136.08
111.4
173.6
831.86
220.47
62.41
131.33
2,209.24
July 11, 2018
Government Bonds Prices
Closing Price Data : 10-Jul-2018
Series
FR0032
FR0038
FR0048
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-Jul-18
15-Aug-18
15-Sep-18
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
0.01
0.10
0.18
0.76
1.18
2.35
2.93
3.02
3.85
3.93
4.02
4.85
5.02
5.10
5.68
6.19
7.19
8.19
8.19
8.85
9.02
9.61
9.85
10.69
12.11
12.85
13.02
13.94
14.11
14.86
15.69
17.86
18.86
138.47
20.03
22.86
23.78
25.03
29.87
Source: Bloomberg, IBPA & MCS Estimates
Coupon
15.000%
11.600%
9.000%
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
100.30
100.64
100.52
100.88
105.03
108.21
114.44
102.76
99.23
117.60
109.56
93.32
108.41
117.96
104.55
112.31
117.80
124.47
105.33
97.15
116.97
116.17
91.76
109.80
118.24
106.22
109.83
102.70
96.27
90.13
103.83
102.36
114.30
95.99
119.19
110.81
78.85
103.17
90.81
YTM
-6.31%
4.40%
5.84%
6.65%
6.95%
7.12%
7.23%
7.21%
7.23%
7.63%
7.45%
7.28%
7.46%
7.45%
7.38%
7.47%
7.72%
7.88%
7.49%
7.44%
7.61%
7.59%
7.31%
7.64%
8.10%
7.97%
8.25%
7.93%
7.94%
7.76%
7.94%
8.00%
8.24%
7.90%
8.49%
8.42%
8.45%
8.44%
7.82%
Price (-1)
100.30
101.03
100.50
100.79
105.14
107.79
114.28
102.69
98.88
117.60
109.53
93.11
108.41
117.55
104.19
111.54
117.47
124.47
105.23
96.59
115.60
114.03
91.15
108.25
118.24
104.66
109.83
102.00
95.83
89.04
102.39
101.90
114.348
95.45
119.19
110.81
78.85
103.09
95.14
Price Spread (bps)
0.0
-39.2
2.7
8.7
-10.6
41.8
15.4
6.6
34.9
0.0
2.9
21.3
0.0
40.9
36.2
76.5
32.9
0.0
10.8
56.6
137.1
213.9
61.2
154.9
0.0
156.6
0.0
70.0
44.1
109.2
143.8
45.4
-4.5
53.9
0.0
0.0
0.0
8.1
-432.1
July 11, 2018
Macroeconomic Indicator
IndicatorCalendar
Calendar
(19 09
- 23- 13
Maret
2018)
Macroeconomic
(July,
2018)
INDONESIA
Date
Indicator
Series
Data
Actual
Previous
Projection
09
Consumer Confidence
Jun-18
128.1
125.1
125.5
11
Retail Sales (YoY)
May-18
-
4.1%
4.4%
Previous
Projection
GLOBAL
Date
Indicator
Country
Series Data
Actual
09
Balance of Trade
Germany
May-18
19.7 billion EUR
10
Inflation Rate (YoY)
China
Jun-18
1.9%
10
Balance of Trade
United
Kingdom
May-18
10
ZEW Economic
Sentiment Index
Germany
Jul-18
-24.7
11
Crude Oil Inventory
US
Week Ended,
July 06 - 2018
-
12
Inflation Rate Final
(YoY)
Germany
Jun-18
-
2.2%
2.1%
12
Inflation Rate (YoY)
US
Jun-18
-
2.8%
2.9%
12
Initial Jobless Claims
US
Week Ended,
July 07-2018
-
231 thousand
227 thousand
12
Continuing Jobless
Claims
US
Week Ended,
June 30-2018
-
1739 thousand
1717 thousand
13
Balance of Trade
China
Jun-18
-
Source: Tradingeconomics and Bloomberg (2018)
20.1 billion EUR 21.2 billion EUR
1.8%
2.0%
-12.36 billion GBP -12.40 billion GBP -12.0 billion GBP
-16.1
-10.2
1.25 million barrel -1.7 million barrel
24.92 billion USD 29.00 billion USD
July 11, 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
[email protected]
Head of Debt Capital
Market
Cicih Sukaesih
[email protected]
Debt Sales
Emilda Mardiyanti
[email protected]
Debt Sales
Ajeng Palupi P.
[email protected]
Debt Sales
Qolbie Ardie
[email protected]
Economist &
Fixed Income Analyst
Siti Maulina M.
[email protected]
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
8.50
(-1 day)
7.01
7.36
7.34
7.40
7.40
7.50
7.77
7.56
7.57
7.45
7.94
7.98
7.82
(-1 week)
7.41
7.59
7.75
7.73
7.71
8.08
8.11
8.08
8.14
7.85
8.31
8.22
7.82
(-1 month)
6.59
6.82
6.97
6.98
6.95
7.21
7.27
7.30
7.31
7.26
7.66
7.69
8.10
7.50
Yield (%)
Indonesia Government Bonds Yield
Maturities (Year)
10-Jul
01
6.96
02
7.24
03
7.30
04
7.34
05
7.36
06
7.45
07
7.77
08
7.55
09
7.51
10
7.37
15
7.78
20
7.94
30
8.29
Source: Bloomberg
6.50
5.50
4.50
01
02
03
04
05
06
07
08
09
10
15
20
30
Maturities (Year)
10-Jul
(-1 day)
(-1 week)
(-1 month)
Global Market Update
At Tuesday, July 10, US treasury yield fell to
2.85% because higher trade war tension. On
the other hand, global benchmark bond yield
move upward, indicated by 10-years UK gilt
and 10-years German yield rose to 1.30%,
and 0.37%.
Yield US Treasury pada hari Selasa, 10 Juli 2018
ditutup turun ke level 2,85% akibat tensi perang
dagang yang semakin meningkat. Di sisi lain, dari
pasar obligasi global, yield acuan global cenderung
ditutup naik, terlihat dari yield 10 tahun UK Gilt
dan German Bund yang ditutup naik ke level
1,30% dan 0,37%.
Domestic Market Update
Yesterday, July 10 2018, The government
absorbed IDR 8 trillion in the last Islamic
government securities (SBSN) or Sukuk
auction from total incoming bids IDR 12.54
trillion. The absorbed amount was above
government’s indicative target, IDR 4 trillion.
Moreover, incoming bids posted higher level
than last auction, IDR 7.15 trillion.
Meanwhile, SPNS11012019 became the most
interesting series in the auction with an
incoming bids IDR 5.08 trillion.
Kemarin, 10 Juli 2018, pemerintah berhasil
menyerap Rp 8 triliun dana dari investor dalam
lelang Surat Berharga Syariah Negara (SBSN)
kemarin dengan tingkat penawaran yang masuk
(incoming bids) mencapai Rp 12,54 triliun. Jumlah
dana yang diserap berada di atas target minimum
pemerintah sebesar Rp 4 triliun, dan jumlah
incoming bids pada lelang kemarin lebih tinggi
dibandingkan dengan lelang SBSN sebelumnya
yang mencapai Rp 7,15 triliun. Sementara itu, seri
SPNS11012019 menjadi seri yang paling banyak
diminati oleh investor dengan tingkat penawaran
yang masuk mencapai Rp 5,08 triliun.
Today, Government bond prices on the
secondary market are likely to flattened
amidst of lower US 10-year treasury yield and
Rupiah depreciation tendency. Rupiah will be
ranging from IDR 14,307—14,324 and yield of
10 year benchmark bond (FR0064) will be
ranging from 7.22% - 7.40%.
Hari ini, pergerakan harga SBN secara umum di
pasar sekunder diprediksi cenderung datar di
tengah turunnya yield AS dan kecenderungan
melemahnya Rupiah. Nilai tukar rupiah terhadap
dolar AS diprediksi bergerak
pada kisaran
Rp14.307 – Rp14.324 sedangkan yield benchmark
10 tahun (FR0064) pada perdagangan hari ini
diperkirakan bergerak di rentang 7,22% - 7,40%.
July 11, 2018
Last Price
Last Yield
99.30
102.80
90.25
104.25
100.90
93.50
104.50
100.50
97.80
92.20
7.21
7.20
7.74
7.44
6.62
7.24
7.78
6.92
6.81
7.25
Volume
(IDR bn)
1722
1685
1236
1158
937
675
629
616
585
561
Chg (bps)
74.39
14.50
20.64
46.01
-6.25
144.71
12.51
143.07
4.05
65.96
% Chg
1.28%
0.87%
1.27%
1.42%
-0.02%
0.66%
0.44%
0.58%
0.05%
0.53%
% YTD
-7.46%
-6.10%
-6.28%
-3.8%
-4.1%
-2.50%
-14.50%
0.81%
0.06%
-2.4%
10-Jul
14,307
1.328
111.0
1.357
33.17
4.028
(-1 day)
14,296
1.326
110.9
1.357
33.07
4.030
10-Jul
(-1 week)
14,360
1.319
110.6
1.365
33.15
4.042
Consumer Price Index (MoM)
Consumer Price Index (YoY)
Core Inflation (YoY)
BI 7-Day RR Rate (%)
Foreign Reserve (US$ Bn)
Jun-18
0.59
3.12
2.72
5.25
119.8
May-18
0.21
3.23
2.75
4.75
122.9
Apr-18
0.10
3.41
2.69
4.25
124.9
Indonesia Sovereign CDS
As of
2-year
5-year
10-year
JIBOR
O/N
1M
3M
LIBOR
1M
10-Jul
(-1 Day)
(-1 Week)
(-1 Month)
(-1 Year)
47.44
48.29
53.50
50.88
47.39
123.54
125.81
136.45
126.29
119.85
207.2
210.28
220.09
205.12
188.28
3M
6M
Indonesia Interest Rates
Deposit 1M
Lending
Most Active Government Bonds
FR0061
FR0053
FR0065
FR0070
FR0069
FR0063
FR0072
FR0059
SR010
FR0064
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
5882
1687
1644
3275
28682
22197
2828
24920
7692
12610
FX Rate
USD/IDR
GBP/USD
USD/JPY
USD/SGD
USD/THB
USD/MYR
Macroeconomic Data
Most Active Corporate Bonds
FIFA03BCN3
PNMP02ACN2
AMRT02CN2
SANF02BCN1
ISAT02DCN3
ISAT08A
PTHK01CN2
APLN01CN2
ISAT01BCN1
ISAT02ACN3
Last Yield
idAAA
idA
AA-(idn)
idAAidAAA
idAAA
idAAA(gg)
idAidAAA
idAAA
100.00
100.15
100.10
101.67
100.20
101.32
99.55
103.75
103.58
98.88
7.45
7.94
7.46
7.08
8.16
7.18
8.14
7.88
7.61
7.49
10-Jul
(-1 day)
2.00
2.552
2.729
2.851
2.95
2.00
2.526
2.722
2.86
2.96
2.00
2.51
2.72
2.83
2.97
1.75
2.49
2.76
2.96
3.07
1.300
0.371
0.65
3.54
0.038
2.73
2.59
4.08
2.44
1.251
0.298
0.64
3.54
0.033
2.73
2.58
4.10
2.43
1.24
0.29
0.64
3.50
0.03
2.73
2.56
4.20
2.48
1.40
0.49
0.88
3.68
0.05
2.73
2.54
4.22
2.61
3.82
4.33
5.03
3.85
4.38
5.09
3.94
4.52
5.23
3.96
4.46
5.21
10-Jul
(-1 day)
4.94
7.19
7.35
4.91
7.18
7.35
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
Benchmark
FR0061
FR0059
FR0074
FR0072
Volume
(IDR bn)
720
220
100
94
75
74
60
52
50
40
Last Price
10-Jul
(-1 week) (- 1 month)
10-Jul
(-1 week) (- 1 month)
4.79
7.14
7.31
6.06
7.03
7.16
2.09
2.09
2.09
2.05
2.34
2.51
2.34
2.51
2.34
2.50
2.33
2.49
5.74
14.1
5.71
14.3
5.64
14.3
5.63
13.7
10-Jul
99.23
97.15
96.27
102.36
(-1 day)
98.88
96.59
95.83
101.90
Change
35
57
44
45
Yield
7.23%
7.44%
7.94%
8.00%
Government Bond Ownership As of July 09, 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
4-Jul-18
522.90
147.44
111.5
173.0
829.22
220.30
62.20
131.39
2,197.92
5-Jul-18
525.32
155.95
111.5
172.6
829.78
220.40
62.28
131.39
2,209.24
6-Jul-18
524.25
154.04
111.5
173.6
831.71
220.49
62.38
131.27
2,209.24
9-Jul-18
542.07
136.08
111.4
173.6
831.86
220.47
62.41
131.33
2,209.24
July 11, 2018
Government Bonds Prices
Closing Price Data : 10-Jul-2018
Series
FR0032
FR0038
FR0048
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-Jul-18
15-Aug-18
15-Sep-18
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
0.01
0.10
0.18
0.76
1.18
2.35
2.93
3.02
3.85
3.93
4.02
4.85
5.02
5.10
5.68
6.19
7.19
8.19
8.19
8.85
9.02
9.61
9.85
10.69
12.11
12.85
13.02
13.94
14.11
14.86
15.69
17.86
18.86
138.47
20.03
22.86
23.78
25.03
29.87
Source: Bloomberg, IBPA & MCS Estimates
Coupon
15.000%
11.600%
9.000%
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
100.30
100.64
100.52
100.88
105.03
108.21
114.44
102.76
99.23
117.60
109.56
93.32
108.41
117.96
104.55
112.31
117.80
124.47
105.33
97.15
116.97
116.17
91.76
109.80
118.24
106.22
109.83
102.70
96.27
90.13
103.83
102.36
114.30
95.99
119.19
110.81
78.85
103.17
90.81
YTM
-6.31%
4.40%
5.84%
6.65%
6.95%
7.12%
7.23%
7.21%
7.23%
7.63%
7.45%
7.28%
7.46%
7.45%
7.38%
7.47%
7.72%
7.88%
7.49%
7.44%
7.61%
7.59%
7.31%
7.64%
8.10%
7.97%
8.25%
7.93%
7.94%
7.76%
7.94%
8.00%
8.24%
7.90%
8.49%
8.42%
8.45%
8.44%
7.82%
Price (-1)
100.30
101.03
100.50
100.79
105.14
107.79
114.28
102.69
98.88
117.60
109.53
93.11
108.41
117.55
104.19
111.54
117.47
124.47
105.23
96.59
115.60
114.03
91.15
108.25
118.24
104.66
109.83
102.00
95.83
89.04
102.39
101.90
114.348
95.45
119.19
110.81
78.85
103.09
95.14
Price Spread (bps)
0.0
-39.2
2.7
8.7
-10.6
41.8
15.4
6.6
34.9
0.0
2.9
21.3
0.0
40.9
36.2
76.5
32.9
0.0
10.8
56.6
137.1
213.9
61.2
154.9
0.0
156.6
0.0
70.0
44.1
109.2
143.8
45.4
-4.5
53.9
0.0
0.0
0.0
8.1
-432.1
July 11, 2018
Macroeconomic Indicator
IndicatorCalendar
Calendar
(19 09
- 23- 13
Maret
2018)
Macroeconomic
(July,
2018)
INDONESIA
Date
Indicator
Series
Data
Actual
Previous
Projection
09
Consumer Confidence
Jun-18
128.1
125.1
125.5
11
Retail Sales (YoY)
May-18
-
4.1%
4.4%
Previous
Projection
GLOBAL
Date
Indicator
Country
Series Data
Actual
09
Balance of Trade
Germany
May-18
19.7 billion EUR
10
Inflation Rate (YoY)
China
Jun-18
1.9%
10
Balance of Trade
United
Kingdom
May-18
10
ZEW Economic
Sentiment Index
Germany
Jul-18
-24.7
11
Crude Oil Inventory
US
Week Ended,
July 06 - 2018
-
12
Inflation Rate Final
(YoY)
Germany
Jun-18
-
2.2%
2.1%
12
Inflation Rate (YoY)
US
Jun-18
-
2.8%
2.9%
12
Initial Jobless Claims
US
Week Ended,
July 07-2018
-
231 thousand
227 thousand
12
Continuing Jobless
Claims
US
Week Ended,
June 30-2018
-
1739 thousand
1717 thousand
13
Balance of Trade
China
Jun-18
-
Source: Tradingeconomics and Bloomberg (2018)
20.1 billion EUR 21.2 billion EUR
1.8%
2.0%
-12.36 billion GBP -12.40 billion GBP -12.0 billion GBP
-16.1
-10.2
1.25 million barrel -1.7 million barrel
24.92 billion USD 29.00 billion USD
July 11, 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
[email protected]
Head of Debt Capital
Market
Cicih Sukaesih
[email protected]
Debt Sales
Emilda Mardiyanti
[email protected]
Debt Sales
Ajeng Palupi P.
[email protected]
Debt Sales
Qolbie Ardie
[email protected]
Economist &
Fixed Income Analyst
Siti Maulina M.
[email protected]
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.