Market Roundup
- US Treasuries weakened following the release of positive reading from personal spending, alongside stable jobless claims number, while the rising momentum in yields were eased by the demand on safe-haven assets, amid intensifying Greek bailout tension.
- Ringgit govvies closed firmer on Thursday, trekking gains on overnight UST. However, short dated names dealt mixed amid relatively heavier flows, as players kept their portfolio durations short ahead of the major risk events (Greek bailout and Fitch review), in our view.
- Thai government bond yields inched up across the curve on Tuesday, alongside the weakening THB, as USD/THB hovered near 33.800 throughout the day. Meantime, daily volume edged higher from Bt20.8 billion to Bt21.3 billion.
- Indo sovereign yield curve went higher on the back of concern on Greek debt saga, while IDR weakened (USD/IDR edging higher above 13300 level). Market jitters with foreign banks selling across the bellies and long end of the benchmark papers. On the flip side, local players were seen better buyers for the 3-year bucket.
- Asian credit market weakened amid relatively bearish EM sentiment, pairing with cautious trading ahead of the outcome of Greek bailout negotiation. Apart from that, Kaisa Mar’18 dealt 0.20pt lower after the S&P decided to discontinue monitoring its ratings.
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