Fixed Income Daily Pulse, 29 Oct 2015

Today’s trade recap by our trading desk:-

· 20Y GII 10/35 results: H 4.823%, L 4.700%, A 4.786%. BTC 2.441x. Bid-to-cover was stronger than expected although results were at higher than expected yields. No trades were done post auction. Rest of the curve was bearish today in line with the weakening MYR and declining oil prices.

MGS Benchmark Issues MGS Closing Level (%) Chg (bp) Vol (RM m) 3-yr 3.590 +2.0 340 5-yr 3.700 +1.0 18 7-yr 4.065 +2.5 510 10-yr 4.120 +4.0 95 15-yr 4.370 +2.0 10 20-yr 4.460 +1.0 0 30-yr 4.710 +0.5 1 IRS Closing Rates IRS Closing Yld (%) Chg (bp) 1-yr 3.835 -0.5 3-yr 3.970 0.0 5-yr 4.100 0.5 7-yr 4.245 0.5 10-yr 4.450 1.0 Source: Bloomberg, AmBank          Source: BondStream, AmBank                      Local News: None.