IDR: IDR Recovers Yesterday's Losses

*JAPAN 30Y GOVT BOND AUCTION MAY HAVE 100.45 LOWEST PRICE: POLL -  BLOOMBERG

• The biggest liquidity injection in a week has got bonds moving today with futures up and the 10-Yr marginally lower.  
• The 10-yr future is up +0.05 to 108.53, above all major moving averages.  The 20-day EMA is below at 108.38.
• The 2-Yr future is up +0.01 at 102.47, near to the 200-day EMA of 102.47.
• The 10-Yr CGB is down down by -0.5bps in yield to 1.80%, having edged up into the close yesterday.  

The Japanese Ministry of Finance (MoF) will today sell Y700bn of 30-Year JGBs. The MoF last sold 30-year debt on 7 October 2025. The auction drew cover of 3.4110x at an average yield of 3.248%, an average price of 99.27, a high yield of 3.259%, and a low price of 99.10, with 41.4864% of bids allotted at the high yield.

• Last month’s 30-year bond auction delivered mixed results. The low price fell short of dealer expectations of 99.15, per the Bloomberg survey. However, the cover ratio increased to 3.4110x from 3.30806x and the auction tail shortened to 0.17 from 0.18.
• This month’s 10-year JGB auction delivered weak to mixed results, with the low price failing to meet expectations at 100.34, according to the Bloomberg dealer poll. Moreover, the cover ratio decreased to 2.9734x from 3.3356x. However, the tail shortened to 0.13 from 0.19.
• Results are due at 0335 GMT / 1235 JT.