Attached is
the monthly market commentary for May 2015. We have included the near term
outlook for the month of April 2015.
- Ringgit sovereign bonds weakened but amid thinner volume as most players neither took new positions in large droves nor crystallized profits. We think foreign and real moneys are still on bullish on Ringgit bonds. Talk of future rate cut by Bank Negara and ample liquidity on the back of no bills auctions and maturity are supporting sentiment. Any significant further increase in yields looks likely to attract fresh bids, in our opinion.
- US Treasuries weakened with the yield curve steepening further. Even though a very quick Fed rate hike may not so soon, players are readily pricing in eventual Fed tightening, whilst at the same time are affected by the surge in Euro Zone yields.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.