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Indonesia 10y and 20y Benchmarks will be Reopen in the Next Week Auction

By administrator | January 15, 2016 | Economy.

Indonesia government will reopen 10y (FR0056) and 20y (FR0072) benchmarks bond on Tuesday auction, next week. The government awarded 43% of total bids for 10y bond on the first auction. Meanwhile, the 20y benchmark posted 1.4x bids to cover ratio, the lowest during the auction indicating government was more aggressive to award the bids on the bonds.

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We expect government to be more aggressive on next week auction given a demanded yields likely will be lowered following the BI rate cut yesterday. On the first auction of this year, government raised only IDR12 trn in line with their target. In addition, the average weighted yield on 10y and 20y bonds were higher 43bps and 20bps than the yields in the secondary market. Government also will reopen 15y benchmark and 1 series of short term treasury bills.

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