The domestic bond market strengthened. The 10Y government bond yield fell 11 bps to 7.19%, while the 5Y yield declined 8 bps to 7.14%. The Rupiah strengthened to Rp17,760/USD, supported by Destry Damayanti’s nomination as the sole candidate for BI Governor and easing foreign selling pressure. Indonesia’s 5Y CDS narrowed to 89.03, reflecting improved risk perception. Trading activity softened, with market focus shifting to June retail sales data and the auction of 8 SBSN series on August 11. In global markets, the US 10Y Treasury yield rose to 4.70%, its highest level this month, driven by higher oil prices and renewed inflation concerns. Japan’s 10Y JGB yield rose above 2.80%, while the UK 10Y Gilt yield increased to 4.92%, amid uncertainty over the reopening of the Strait of Hormuz and persistent inflationary pressures.