Research

A Weak Start In February

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Algo Research Team

Market | Feb 01, 2024 | Views: 186

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Key Summary:

  • Is another crisis emerging in the US banking sector?
  • Foreign flows in Indonesian equity, bonds and FX
  • De-risking from market as a caution

The Fed pushed back the notion of a March rate cut (now market expectation is in May 2024), but recent emergence of a US banking crisis could prompt an earlier cut (back to March) or perhaps gradually stopping QT this year. Such a volatile world.


We are also seeing less flows in equity, bonds and FX in Indonesia as domestic risk surrounding the election (and cabinet changes) fuels uncertainty for traders and investors. In any case, the big-caps like banks have reported their FY23 earnings mostly in-line except for BMRI and BRIS that reported better than analysts estimates.

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