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Bond traders continue to bet on rising yields, although they have trimmed some of the most aggressive positions. The US core employment data to be released on Friday may further reinforce market expectations of a Federal Reserve interest rate hike. Recently, the US bond market has been dominated by bearish sentiment. Rising crude oil prices, combined with inflation levels persistently above target, have pushed benchmark Treasury yields significantly higher and prompted traders to increase bets on a rate hike as early as this year. Although market sentiment has somewhat improved amid hopes for a ceasefire deal between the US and Iran, traders overall still maintain defensive positions. The US 10-year Treasury yield has retreated from a two-week high near 4.69% to below 4.5%, but remains significantly above the lows seen at the start of this year. Bank of America strategists stated in their latest weekly report: "Current market positions still favor shorts." They added, "Even though the upward momentum is not as clear as before," the direction of positioning should still lean toward higher yields.

The supply will come from deepwater natural gas resources being developed in the Kutai Basin, which is close to Indonesia’s existing Bontang liquefied natural gas plant. A spokesperson for ConocoPhillips said in an email that the agreement will commence in 2029; the company declined to disclose the specific supply volume and duration of the agreement.

The issuance scale of this batch of notes can reach up to 500 million US dollars, with a coupon rate set at 6.500%.