Today’s
trade recap by our trading desk:-
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· Local govvies closed the
day slightly bearish on light volume. It was a bearish start to the
day on the back of a weaker MYR opening, however late afternoon
bargain hunting saw some support for MGS. Likewise, 5Y onshore IRS
went through a see-saw day, which was done as high as 4.30% before
easing to 4.25%, 5Y bond-swap spreads are currently comparatively
wide at 39bps with 5Y MGS at 3.86%. Later this week, we are
expecting the announcement of the new 3.5Y MGS 03/19, with expected
issue size of RM4.0bio.
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MGS Benchmark Issues
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MGS
|
Closing Level (%)
|
Chg (bp)
|
Vol (RM m)
|
|
3-yr
|
3.480
|
0.0
|
10
|
|
5-yr
|
3.860
|
0.0
|
32
|
|
7-yr
|
4.140
|
0.0
|
90
|
|
10-yr
|
4.260
|
+2.0
|
69
|
|
15-yr
|
4.570
|
+2.0
|
0
|
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20-yr
|
4.720
|
-
|
-
|
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30-yr
|
4.910
|
-
|
-
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IRS Closing Rates
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IRS
|
Closing Yld (%)
|
Chg (bp)
|
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1-yr
|
3.985
|
1.0
|
|
3-yr
|
4.130
|
0.5
|
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5-yr
|
4.260
|
0.0
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7-yr
|
4.410
|
2.0
|
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10-yr
|
4.600
|
1.0
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Source:
Bloomberg, AmBank
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Source: BondStream, AmBank
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Local
News:
·
None.
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