• bond market

    • bond market
    • bond market
      • October-2019: Corporate Bonds
        We see the issuance of debt securities as increasingly lively toward the close of 2019. As of November 27, 2019, the issuance for the year totaled IDR129.4 trillion, and for the full year of 2019 it is will exceed the previous year’s total of IDR132.4 trillion. More detail ...
      • August-2019: Corporate Bonds
        We expect issuance costs to be lower in the near term. Lower interest rates and benchmark yields are catalysts to reduce funding costs in the next few months. Based on IBPA data, corporate bond yields for major tenors, three years and five years, closed at 7,698% and 7,940% as of September 26, 2019, down 153bps and 131bps, respectively. More detail ...
      • June-2019: Corporate Bond Market
        We expect the positive trend in the government bond market to boost the performance of the corporate bond market. Corporate bond yields continued to fall, heading to their lowest point in the past three years. As of July 16, 2019, yields for the three-year and five-year tenored AAA-rated corporate bonds were 7.407% and 7.777%, respectively, dropping by 183 bps and 147 bps YtD. More detail ...
      • April-2019: High Costs Reduce New Issuance
        At the beginning of 2019, apart from the higher cost of funds, presidential and legislative elections also encouraged companies to wait and see. Even though the effective yields of corporate bonds have dropped, there was still a slight pause to be effective in establishing corporate bond coupons (Exhibit 9). Based on Bloomberg data, the effective yield of corporate bonds ranked AAA with a three-year tenor to 8,347% as of April 25, 2019, down 89 basis points from the end of the previous year. For the same rating of a five-year tenor, the yield fell 79 basis points to 8.464%. More detail ...
      • February-2019: Multifinance Industry
        We are of the view that the growth outlook for the multifinance financing industry is still challenging. Funding is becoming tighter as interest rates increase, adding to the challenge from the disruption by financial technology companies (fintech). More detail ...
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