Market Roundup
- US market closed on Memorial Day.
- Market was quiet in Ringgit government bond market, as total trading volume shrank from RM2 billion to RM722 million on Monday. Market is generally awaiting the reopening of 7-year GII announcement this week.
- Thai sovereign bond yields inched higher, amid heavier net foreign selling activities on Monday, driven by the higher UST yields late last week. On top of that, USD/THB surged from 33.359 to 33.603, in conjunction with declines in both stock and bond markets.
- It was a quiet day for Indonesia government bond market on Monday due to the US and HK holidays. Bond traded in range during opening session, however started to trade down after the break with FR70 (10-year) and FR71 (15-year) benchmark bonds quite actively traded ahead of today's bond auction. Sellers were seen in all benchmark series, however some players still show buying-on-dips interest especially on FR71 since that series is not auctioned today. For today's auction, demand could be decent, however players probably ask for higher yield. Transaction volume eased to IDR 9.7 trillion.
- Asian credit market was muted, as US and HK markets closed on Memorial Day and Buddha’s Birthday respectively. In addition, investors chose to stay at the sidelines for the upcoming primary deals.
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