IDEN

← House View

Transmission map

How the factors the desk tracks reach its theses, House View and product types. Every link was defined by people: thesis factors entered with each thesis, product sensitivities in the desk rules. Nothing is inferred.

us_inflation → th:long_id_bonds: helps when coolingus_yields → th:long_id_bonds: helps when fallingrupiah → th:long_id_bonds: helps when strongerid_yields → th:long_id_bonds: helps when fallingth:long_id_bonds → ac:id_bonds: argues the viewreal_yields → th:gold_overweight: helps when fallingusd → th:gold_overweight: helps when weakerth:gold_overweight → ac:gold: argues the viewus_equities → th:us_equity_neutral: helps when risingus_inflation → th:us_equity_neutral: helps when coolingus_yields → th:us_equity_neutral: helps when fallingth:us_equity_neutral → ac:us_equity: argues the viewus_yields → idr_bond_long: helps when fallingrupiah → idr_bond_long: helps when strongerus_inflation → idr_bond_long: helps when coolingid_yields → idr_bond_long: helps when fallingus_equities → usd_global_equity: helps when risingus_yields → usd_global_equity: helps when fallingusd → usd_global_equity: helps when strongerrupiah → id_equity: helps when strongerid_yields → id_equity: helps when fallingreal_yields → gold_linked: helps when fallingusd → gold_linked: helps when weakerProductsIDR government bond fund (long duration)IDR government bond fund (…IDR money market fundIDR money market fundUSD global equity fundUSD global equity fundIndonesia equity fundIndonesia equity fundGold-linked productGold-linked productFactorsUS inflationUS inflationUS 10-year yieldUS 10-year yieldUS real yieldsUS real yieldsUS dollarUS dollarRupiahRupiahIndonesia 10-year yieldIndonesia 10-year yieldUS stock trendUS stock trendThesesLong Indonesia government bondsLong Indonesia government …Gold overweightGold overweightUS equities neutralUS equities neutralHouse ViewIndonesia government bondsIndonesia government bondsUS equitiesUS equitiesGoldGoldUS dollarUS dollar
recent reading helps along this linkrecent reading hurtslittle changed or no dataThicker: a key factor of the thesis. Recent reading = the change over the last 30 days against its usual size (1× or more), or the latest CPI release.

Factors and their recent reading

FactorRecent readingReaches
US inflation heating up US_CPI:2026-09 Long Indonesia government bonds · helps when coolingUS equities neutral · helps when coolingIDR government bond fund (long duration) · helps when cooling
US 10-year yield
ust10y
 rising (+20 bp, 1.2×) Long Indonesia government bonds · helps when fallingUS equities neutral · helps when fallingIDR government bond fund (long duration) · helps when fallingUSD global equity fund · helps when falling
US real yields
tips10y
 rising (+20 bp, 1.4×) Gold overweight · helps when fallingGold-linked product · helps when falling
US dollar
dxy
 stronger (+2.23%, 1.4×) Gold overweight · helps when weakerUSD global equity fund · helps when strongerGold-linked product · helps when weaker
Rupiah
usdidr
 little changed (+1.57%, 0.7×) Long Indonesia government bonds · helps when strongerIDR government bond fund (long duration) · helps when strongerIndonesia equity fund · helps when stronger
Indonesia 10-year yield
id10y
 little changed (+6 bp, 0.3×) Long Indonesia government bonds · helps when fallingIDR government bond fund (long duration) · helps when fallingIndonesia equity fund · helps when falling
US stock trend
spx
 little changed (+2.21%, 0.6×) US equities neutral · helps when risingUSD global equity fund · helps when rising