？？ *Kiwoom Research | FIXED INCOME – Daily Report 2 Sep 2026* _This document is for information only and for the use of the recipient. It is not to be reproduced, copied, or distributed to others._ ？？ *Tekanan Global Menguat, Yield SUN Kembali Naik* *？？ Market Review:* *Pasar obligasi domestik kembali tertekan,* dengan yield SUN 10Y naik 3 bps ke 6,99%, meski masih turun 39 bps secara bulanan. Yield SUN 5Y naik 13 bps ke 6,94%, namun masih turun 36 bps MoM. Rupiah stabil di sekitar Rp17.730/USD, sementara CDS 5Y naik tipis ke 84,58. Aktivitas perdagangan SUN dan obligasi korporasi meningkat masing-masing menjadi Rp59,67 triliun dan Rp10,9 triliun. *Di pasar global,* yield US Treasury 10Y naik ke 4,79%, tertinggi sejak Januari 2025, didorong kenaikan harga minyak dan ekspektasi kebijakan The Fed yang lebih ketat. Yield JGB 10Y mendekati 3%, sementara UK Gilt 10Y menembus 5,2%, seiring meningkatnya kekhawatiran inflasi dan ekspektasi kenaikan suku bunga bank sentral. ？？ *MOST ACTIVE GOVERNMENT BONDS* - FR110 | Price 101.20 | Coupon 7.3% | Yield 7.0% | Volume Rp2.14T - FR106 | Price 99.86 | Coupon 7.1% | Yield 7.1% | Volume Rp360.0B - FR107 | Price 99.75 | Coupon 7.1% | Yield 7.1% | Volume Rp211.4B - FR102 | Price 96.05 | Coupon 6.9% | Yield 7.2% | Volume Rp175.6B - PBS5 | Price 97.15 | Coupon 6.8% | Yield 7.0% | Volume Rp132.6B ？？ *MOST ACTIVE CORPORATE BONDS* - MBMA01ACN5 | Price 101.00 | Coupon 9.0% | Yield 8.2% | Volume Rp796.2B - SMLPPI01ACN1 | Price 111.53 | Coupon 11.0% | Yield 6.9% | Volume Rp328.4B - SIBALI01BCN3 | Price 99.29 | Coupon 7.3% | Yield 7.7% | Volume Rp298.8B - MBMA01BCN5 | Price 100.00 | Coupon 10.0% | Yield 10.1% | Volume Rp290.0B - SMMA03CN1 | Price 108.37 | Coupon 10.0% | Yield 6.5% | Volume Rp286.0B _See our daily fixed income report for more information._？？ ©？ *KIWOOM SEKURITAS INDONESIA*