External broker reports(aggregated public sources), BRI Danareksa Research

BRI Danareksa Research

External broker reports(aggregated public sources)

As a one-stop financial solution with the vision to be the most valuable securities house, BRI Danareksa Sekuritas (BRIDS) has maintained an excellent track record and extensive experience in the capital market as an underwriter, broker, and financial advisor for individual, institutional, foreign and domestic, private and government clients. Established in 1992, PT Danareksa Sekuritas is a securities company that performs activities as a securities broker, underwriter, or arranger and financial advisor.

Macroeconomics

<ul><li>A reduction in the Treasury issuance target in 4Q, FOMC’s rate pause, and weaker US job data are seen as the main factors behind the recent surge in asset prices, with UST yields falling to 4.57% and the DXY to 105.</li><li>Growth risk stands to dominate going forward rather than concerns on rising interest rates, and this will drive more fiscal spending, we believe.</li><li>Both INDOGB and the JCI finally saw the return of foreign inflows, with the IDR enjoying some support.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

A reduction in the Treasury issuance target in 4Q, FOMC’s rate pause, and weaker US job data are seen as the main factors behind the recent surge in asset prices, with UST yields falling to 4.57% and the DXY to 105.Growth risk stands to dominate going forward rather than concerns on rising interest rates, and this will drive more fiscal spending, we believe.Both INDOGB and the JCI finally saw the return of foreign inflows, with the IDR enjoying some support.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

External broker reports(aggregated public sources), Scotiabank

Scotiabank

Scotiabank’s global foreign exchange strategy team provides in-depth regional insights and macro-economic analysis for G10 and advanced economies, Asia Pacific, and Latin America. Find technical and fundamental strategy reports focused on trade ideas, market risks, and the unfolding macro outlook. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

FX & Rates

<ul><li>FX Market Update—Markets are generally calmer ahead of this morning’s data points.</li><li>Stocks are positive in Europe, but gains are modest, while US equity futures are very narrowly mixed after disappointing AAPL results last night.</li><li>Major bond markets are mostly weaker on the day but yields are showing minimal gains. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

FX Market Update—Markets are generally calmer ahead of this morning’s data points.Stocks are positive in Europe, but gains are modest, while US equity futures are very narrowly mixed after disappointing AAPL results last night.Major bond markets are mostly weaker on the day but yields are showing minimal gains. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>FX Market Update—The Fed decision added little to the near-term rate outlook on the face of it.</li><li>The policy statement was barely changed at all from September’s but did give a nod to strong growth whilst acknowledging tighter financial (alongside credit) conditions.</li><li>Fed Chairman Powell played it straight at the press conference—not thinking about rate cuts, not confident that policy is restrictive enough and leaving the door open to more tightening. But markets were sniffing out whiffs of dovishness from the chairman— ”proceeding carefully” came up a lot and he did seem to put a bit of distance between where the FOMC is now and the September dots which implied one more hike. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

FX Market Update—The Fed decision added little to the near-term rate outlook on the face of it.The policy statement was barely changed at all from September’s but did give a nod to strong growth whilst acknowledging tighter financial (alongside credit) conditions.Fed Chairman Powell played it straight at the press conference—not thinking about rate cuts, not confident that policy is restrictive enough and leaving the door open to more tightening. But markets were sniffing out whiffs of dovishness from the chairman— ”proceeding carefully” came up a lot and he did seem to put a bit of distance between where the FOMC is now and the September dots which implied one more hike. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

FX Daily - USD Softer as Market Sees Fed Dovishness

<ul><li>The USD is trading mostly lower against its major peers to start a busy week—one which contains month-end, the FOMC, BoE and BoJ decisions, and US jobs data on Friday.</li><li>A widening ground offensive in Gaza has not unsettled markets to any obvious extent; crude prices have slipped back from Friday’s advance and stocks are generally firmer.</li><li>Bonds are mixed; European yields are slightly lower while Treasury yields are a firmer but holding within Friday’s range. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The USD is trading mostly lower against its major peers to start a busy week—one which contains month-end, the FOMC, BoE and BoJ decisions, and US jobs data on Friday.A widening ground offensive in Gaza has not unsettled markets to any obvious extent; crude prices have slipped back from Friday’s advance and stocks are generally firmer.Bonds are mixed; European yields are slightly lower while Treasury yields are a firmer but holding within Friday’s range. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>Post the ECB’s decision to maintain interest rates at 4%, signalling a halt following a string of ten successive interest rate hikes, the market’s focus will now shift to this week’s FOMC meeting, with the expectation of a similar outcome.</li><li>Lower liquidity will hasten a higher BI rate policy, with SRBI indicating a higher yield.</li><li>Fiscal stimulus will be enough to compensate for the impact of BI’s 25 bps rate hike, and fiscal acceleration in 4Q will be seen as a panacea for liquidity.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Post the ECB’s decision to maintain interest rates at 4%, signalling a halt following a string of ten successive interest rate hikes, the market’s focus will now shift to this week’s FOMC meeting, with the expectation of a similar outcome.Lower liquidity will hasten a higher BI rate policy, with SRBI indicating a higher yield.Fiscal stimulus will be enough to compensate for the impact of BI’s 25 bps rate hike, and fiscal acceleration in 4Q will be seen as a panacea for liquidity.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

United States

The U.S. Dollar Index(USDX) indicates the general int'l value of the USD. The USDX does this by averaging the exchange rates between the USD and major world currencies. The ICE US computes this by using the rates supplied by some 500 banks. FOR REAL TIME SEE EIS ICEA<GO>.

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Dollar Index (DXY CURNCY)

Macro Strategy: Renewed Interest

A reduction in the Treasury issuance target in 4Q, FOMC’s rate pause, and weaker US job data are seen as the main factors behind the recent surge...

BRI Danareksa Research

FX Daily - USD Remains Soft into NFP

Stocks are positive in Europe, but gains are modest, while US equity futures are very narrowly mixed after disappointing AAPL results last night.

Scotiabank

FX Daily - USD Softer as Market Sees Fed Dovishness

The policy statement was barely changed at all from September’s but did give a nod to strong growth whilst acknowledging tighter financial...

Scotiabank

FX Daily - USD Drifts on Market Calm

The USD is trading mostly lower against its major peers to start a busy week—one which contains month-end, the FOMC, BoE and BoJ decisions, and US...

Scotiabank

Macro Strategy: Liquidity Impetus

Fiscal stimulus will be enough to compensate for the impact of BI’s 25 bps rate hike, and fiscal acceleration in 4Q will be seen as a panacea for...

BRI Danareksa Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)