The Government issue IDR23.4Trn in government bond auction held Tuesday (23/4/2019). The auction amidst government bond yield attractive. In fact, the auction value show bigger numbers than previous auction on April 9, worth IDR15.72Trn. The value is still higher than the average value of the issuance since the beginning of the year to IDR23.11Trn.
The Government offers seven series, consist of 3-months SPN03190724 (New Issuance), 9-months SPN12200106 (Reopening), 5-years FR0077 (Reopening), 10-years FR0078 (Reopening), 15-years FR0068 (Reopening), 20-years FR0079 (Reopening), and 30-years FR0076 (Reopening). For the record, benchmark series are FR0077, FR0078, FR0068, and FR0079.
As well as, investor incoming bid of the auction today reach IDR41.76Trn, higher than previous auction IDR31.84Trn but still below the average demand in the auction since the beginning of the year to IDR58.68Trn. Refinitiv data show benchmark series price down. Series reference for the most weakened is the FR0078 with the rise in yield 3.5 Bps to 7.65%.
Furthermore, portion of the investors in the market, Directorate General of Budget Financing and Risk Management (DJPPR) Ministry of Finance shows foreign investors ownership IDR951.63Trn in government securities. These ownership equivalent with 38.73% of total circulating IDR2,47Trn based on data per April 22. In addition, numbers ownership still positive or increased IDR58.38Trn, compared to IDR893.25Trn late December, so the percentage is still up from 37.71% in the same period.