The Indonesian rupiah dropped to its weakest since the emerging market rout of 2018






The Indonesian rupiah dropped to its weakest since the emerging market rout of 2018, as a sell-off in the nation’s bonds and stocks show little signs of abating with a worsening coronavirus pandemic. The currency slipped as much as 1.5% to 15,160 per dollar on Tuesday, the lowest since November 2018. The benchmark 10-year bond yield surged 17 basis points, while nation’s stock index tumbled over 5%, triggering a trading halt for the third time in a week. (Bloomberg)

The benchmark 10-year Treasury yield popped above 1% on news the White House is weighing a fiscal stimulus package of more than $1 trillion to offset the negative economic impact from the coronavirus outbreak. The yield on the benchmark 10-year Treasury note jumped nearly 30 basis points to 1.038%, its highest level since March 5, as investors bet this stimulus would give a jolt to the economy dealing with a likely recession because of the coronavirus impact. The yield on the 30-year Treasury bond also climbed a similar amount to 1.62%. (CNBC)

Source: Danareksa Sekuritas Debt Research
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