The Government of Indonesia has held an auction of SBSN or Sovereign Sharia Securities on September 1, 2020 for series SPNS02032021 (new issuance), PBS027 (reopening), PBS026 (reopening), PBS025 (reopening) and PBS028 (reopening). The total incoming bids were Rp 38.3 trillion, lower than the previous SBSN auction on August 18, 2020 which amounted to Rp 49.4 trillion. Meanwhile, the total amount awarded was the same as the previous SBSN auction, namely Rp 9.5 trillion. The yield on Government Bonds on September 1 was 6.86%, growing by 12 bps from August 18, 2020 which was 6.74%. Minister of Finance Sri Mulyani explained that there are four supporting factors in order to achieve the 2021 economic growth target of 4.5% - 5.5%. These four factors include handling the Covid-19 pandemic successfully, including vaccine research efforts. Second, the recovery in global economic performance. Third, structural reform efforts to increase business convenience and attract investment. Last, counter cyclical fiscal policy support, including the continued national economic recovery program (PEN). (Investor Daily) Source: Danareksa Sekuritas Debt Research Photo by Cristiano Firmani on Unsplash