IDR: USDIDR Bounces on Key Technical
Nov-06 03:14
- After three consecutive days of losses USDIDR has had minor gains today of +0.06% to steady at 16,708.
- The three days of losses took the Rupiah to oversold territory according to the 14-day Relative Strength Index and with regional currencies predominantly rallying today, it provided enough impetus for a rally.
- It doesn't derail the trend though with the Rupiah weaker by almost -3.5% over the last six months and the Central Bank seemingly unable to stop its decline.
- Indonesia releases its October foreign reserves data tomorrow and it is likely to show that the ongoing decline is continuing, down over US$10bn since the highs from March this year.
- This has occurred despite the local stock market having a strong period, up over 20% in the last six months whilst over the same period the 10-yr government bond yield has declined c. 100bps.
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JGBS AUCTION: 30Y Supply Faces Higher Yield But Similar Curve
Oct-07 03:11
The Japanese Ministry of Finance (MoF) will today sell Y700bn of 30-Year JGBs. The MoF last sold 30-year debt on 4 September 2025.
- This month’s 30-year JGB auction features an outright yield at a new cycle high of 3.351%, approximately 10bps higher than last month’s issuance.
- The 10s30s yield curve is around the same level as the previous auction and sits at its cycle peak at 165bps.
- On a relative value basis, the 30-year bond is around the same valuation to last month, based on the 20-/30-/40-year butterfly spread. Nevertheless, the 30-year is still holding the dramatic cheapening seen in May. It sits at its most discounted level in over 20 years.
- Investor sentiment toward longer-dated global bonds remains uncertain.
- Against this backdrop, today’s 30-year auction will serve as a real test of investor appetite. Ultra-long maturities remain a soft spot in the market, and their performance will be key in determining whether recent volatility continues.
- Results are due at 0435 BST / 1235 JT.
JGBS AUCTION: Poll: 30-Year JGB Auction
Oct-07 03:07
Japan’s 30-Year Bond Auction May Have 99.15 Cut-off Price: Poll- BLOOMBERG
JGBS AUCTION: PREVIEW - 30-Year JGB Auction Due
Oct-07 03:00
The Japanese Ministry of Finance (MoF) will today sell Y700bn of 30-Year JGBs. The MoF last sold 30-year debt on 4 September 2025. The auction drew cover of 3.3080x at an average yield of 3.264%, an average price of 92.98, a high yield of 3.277%, and a low price of 92.80, with 5.2264% of bids allotted at the high yield.
- Last month’s 30-year bond auction delivered mixed results. The low price matched dealer expectations of 92.80, per the Bloomberg survey. However, the cover ratio fell to 3.31x from 3.43x.and the auction tail lengthened to 0.18 from 0.15, indicating a softening in bidding strength.
- This month’s 10-year JGB auction delivered weak results, with the low price failing to meet expectations at 100.49, according to the Bloomberg dealer poll. Moreover, the cover ratio decreased to 3.3356x from 3.9156x, and the tail lengthened to 0.19 from 0.06.
- Results are due at 0435 BST / 1235 JT.
