Market Roundup
- US Treasuries scaled back the gains posted last week, with 30T yield surged drastically by 10bps to 3.18%, following stronger-than-expected ISM Manufacturing number for the month of August.
- MGS benchmarks moved in sideways within narrow range amid quiet market on Tuesday, after the long weekend. Players were seen bidding on the short dated MGS Aug’15, sending the yield lower by 6bps to close at 3.18%. Also, GII May’24 printed decent volume of RM260 million, with yield left unchanged at 4.14%.
- THB denominated government bonds suffered losses, while sovereign yield curve ended steeper, with long end yields rose a tad higher by 3-6bps. Despite that, short dated papers with less than 3-year of maturity in fact held firm amid selling pressure in the market. On the other hand, daily transaction advanced to Bt11.5 billion, from Bt5.6 billion recorded a day earlier.
- IDR denominated government bonds booked gains on Tuesday. Trading activities were very active with total volume of IDR18.72 trillion, jumping dramatically from a day ago of IDR9.26 trillion, concentrating to benchmark series particularly. In general, funds inflows were quite large recently, not only in the secondary market but also primary market. Following successful auction, we expect the market may continue its strengthening.
- Asian dollar credits closed slightly firmer, amid steady sentiment in the market. However, market focus was on the new issuances, as primary market was pretty active on Tuesday. Korea Development Bank launched its 5.5-year paper at 95bps, China Taiping Insurance perp was initially guided at 5.875% on Monday, while 5-year paper from National Saving Bank was offered at 5.5%. In addition, the Bank of Tokyo-Mitsubishi also issued five benchmark tranches.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.