Indonesia Government has raised IDR17trn from first 2Q auction Tuesday, it was above IDR15trn target. The average weighted yield on offering bonds were only 2-3bps higher than the secondary yields which made the government keen to absorb most of investor bids. The average weighted yield on 5y benchmark FR0061 was at 6.81% versus 6.80% in the secondary market.
While the average weighted yield on 10y (FR0059) and 15y benchmark (FR0074) settled at 7.08% and 7.46% respectively, slightly higher than 7.06% and 7.44% yield in the secondary market. In term of absorption value, the highest absorption was recorded by SPN12180412 and SPN03170712 those sold at IDR5.00trn respectively, of total incoming bids IDR8.43trn and IDR11.04trn respectively.