The day’s
trade recap (from our trading desk):
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· Local govvies had a slight
rally in the morning session with some trading done but it was
short lived as the market was quiet in the afternoon session with
yields being sideways. Some offshore is observed unwinding their
carry trades to lock in profits, although implied USD funding over
MYR still looks attractive. Over the GG/AAA segment, 2023-2024 tranches of Telekom
Malaysia bonds declined 1 to 9 bps at a range of 4.36%-4.45%, with
a collective trading volume of RM125m. Meanwhile, PLUS ‘01/18 and
‘01/24 declined 11 and 3 bps to 3.92% and 4.44%, respectively with
RM50m changed hands. Elsewhere in the AA segment, 2015-2019
tranches of Anih Berhad bonds traded 4-20 bps lower to a range of
3.80%-4.36%.
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MGS Benchmark Issues
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MGS
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Closing Level
(%)
|
Chg (bp)
|
Vol (RM m)
|
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3-yr
|
3.35
|
0
|
33
|
|
5-yr
|
3.66
|
0
|
236
|
|
7-yr
|
3.81
|
-1
|
245
|
|
10-yr
|
3.89
|
0
|
90
|
|
15-yr
|
4.12
|
0
|
162
|
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20-yr
|
4.22
|
0
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6
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30-yr
|
4.58
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0
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0
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IRS Closing Rates
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IRS
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Closing Yld (%)
|
Chg
|
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1-yr
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3.62
|
0
|
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3-yr
|
3.65
|
0
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5-yr
|
3.77
|
1
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7-yr
|
3.93
|
0
|
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10-yr
|
4.09
|
0
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