Indonesia’s sovereign CDS 5 yr recorded the lowest level in history
Indonesia’s sovereign CDS 5 yr recorded the lowest level in history on 17 December 2019 which was recorded at 65bps. Meanwhile, the 10yr CDS was recorded at 132bps the lowest since 21 January 2019.
U.S. Treasury yields were steady on Tuesday as investors stayed cautious despite strong U.S. housing data. The benchmark 10-year yield was up less than a basis point to 1.8923% in trading on Tuesday afternoon, after falling as low as 1.8520% during the session. Commerce Department report showed U.S. homebuilding increased more than expected in November and permits for future home construction surged to a 12-1/2-year high as lower mortgage rates continued to boost the housing market and support the broader economy. The report also showed the stock of homes under construction last month was the highest since 2007, which could help to loosen a supply squeeze that has stalked the housing market. In addition, the U.S. House of Representatives on Tuesday approved a $1.4 trillion spending package to avert a partial government shutdown. Offsetting the positive economic news was a report by Boeing Co that it would pause production in January of its best-selling 737MAX jet, which faces a safety review. (Reuters)