Composite Index is still moving sideways but it has potential to continue upward direction.
ID10Y or Bond also is breaking out the down trendline which mean the yield is continuing upward direction too.
Composite is Bullish, ID10Y is Bearish.
ID10Y tend to rise to 9 :
But US10Y tend to fall below zero level following other developed countries Bond Yield :
I believe the spread between ID10Y and US10Y will be larger and might breach the highest spread since 2015 at this current spread of 7.5%.
I don't believe the spread could reach a level in 2009 (a recovery after GFC) but the spread could...
ID10Y ends Pullback by falling from near-Resistance at 7.45%.
This is one of the characteristics of Pullback.
A pullback is also a confirmation that Downtrend is imminent.
I predict ID10Y will continue its Downtrend until it reaches 6.5%.
The spread between Indonesia Bond 10Yr with US Treasury 10Yr reached the highest level since the end of 2016. The spread is now at 5.8% wherein the beginning of 2018, the spread is only at 3.6% and 5.4% at the beginning of 2019.
The latest increase of the spread (since Jul'19) is caused by the falling of UST 10Yr at high speed (from 2.1% to 1.5% in just a...
