Market Roundup
- US Treasuries moved in sideways, amid mixed signals from the economic indicators and Greek debt negotiation progress. Despite the positive view from Greece, the IMF head Christine Lagarde warned that Grexit is possible, while the creditors and Greek government were still far from reaching the bailout agreement.
- Ringgit sovereign yield curve ended marginally steeper on Thursday. Aside, daily volume rose to RM3.6 billion, from RM1.3 billion garnered a day ago, guided by the reopening auction for 7-year GII. On top of that, GII Feb’16 also attracted decent volume amounted RM550 million, and dealt 1bp lower at 3.10%.
- THB denominated government bonds posted little gains, amid thinner flows, led by LB196A and LB21DA, which contributed a combined volume of Bt9.2 billion on Thursday. Elsewhere, the central bank deputy governor Paiboon Kittisrikangwan stated that the current monetary policy is highly accommodative, while a further rate cut may not help much in stimulating economic growth.
- Indonesia government bond market on Thursday traded mixed with better selling seen in the short end of the curve (3- to 5-year tenures). The 10-year benchmark went up on some buying action after the break, however sellers emerged and kept the gain limited on that bucket. Trading volume halved to IDR 7.0 trillion only.
- Asian dollar credit hovered at narrow ranges on Thursday, amid a lack of fresh catalyst to move the secondary market. Meantime, iTraxx ex-Japan IG Index stood firm at 106bps.
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