Macro × Markets × Emerging markets

US 30Y yields 5.2% 19-year peak; Indonesia BI shocks 50bp hike; India 500M swap auction

US 30-year yields hit 5.121%, 19-year high; 10-year touched 4.63%. Polymarket priced 67% odds of zero rate cuts year-end. Indonesia Bank BI surprised with 50bp hike (vs 25bp consensus) to 5.25%, defending rupiah at record 17,706. India RBI announced $500M 3-year USD/INR swap auction.

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