The bid to cover ratio on FR0067 (26.8-year) recorded at 1.68 times, low compared to FR0061 and FR0059 that reached 13.58 times and 3.00 times respectively, on yesterday’s auction. Government raised IDR1.70trn from FR0067 of total IDR2.84trn incoming bids. Relatively high absorption on FR0067 was due lower demanded yield for the bond given the average weighted yield only reached 7.95%, relatively similar compared to secondary market yield prior the auction day at 7.97%, based on Bloomberg data. Investor rising interest on long term bonds amidst maintain’s inflation expectation. For the record, President Joko Widodo previously instructed his ministers to reduce the prices of staple foods before Ramadhan.