Fixed Income Daily Pulse, 24 June 2015

The day’s trade recap (from our trading desk):

· The bond market today was very calm and yields remained well within a 1 bp range. However, there is still some good 2-way price action on the 7-year MGS ‘09/22 although its price remained well within 98.90-99.00 range with a total RM499m traded. The MGS maturing in the year 2017 continue to be well bided by the same foreign counterparty with prices remaining around the same levels. It is expected that the announcement of 5-year GII reopening tomorrow with a size of RM3b. In the GG/AAA segment, PLUS ‘01/28 eased 1 bp lower at 4.60% whereas ‘01/30 and ‘01/36 remained unchanged at 4.71% and 4.96%, total trading volume amounted to RM25m. Suria KLCC Sdn Bhd ‘12/24 remained unchanged at 4.46% with a total trading volume of RM10m.Whereas in the AA segment, Tanjung Bin Energy Issuer Berhad eased 4 bps lower to 5.52% with RM5m changed hands. UEM Sunrise Berhad ‘04/22 increased 7 bps higher at 4.72% with a total trading volume of RM1m. MGS Benchmark Issues MGS Closing Level (%) Chg (bp) Vol (RM m) 3-yr 3.180 +1 525 5-yr 3.630 0 20 7-yr 3.960 0 499 10-yr 4.025 +1 23 15-yr 4.180 +1 21 20-yr 4.270 0 10 30-yr 4.700 - - IRS Closing Rates IRS Closing Yld (%) Chg (bp) 1-yr 3.635 0 3-yr 3.720 -1.0 5-yr 3.925 -2.0 7-yr 4.110 -1.5 10-yr 4.365 -1.8 Source: Bloomberg, AmBank

               

  

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