Indonesia government has raised a total of IDR15trn through the first bonds auction this year, in line with its target. Total incoming bids were seen decent reaching a staggering of IDR36.9trn with the new 10y benchmark bond (FR0059) sold for IDR3.6trn on 7.79% average weighted yield. In addition, government also sold short term treasury bill i.e. SPN03170404 worth IDR6.1trn on 5.93% average weighted yield and SPN12180104 worth IDR5.30trn on 6.78% average weighted yield. Government’s front loading strategy has led the government to accept bids on Tuesday’s auction.