Market
Roundup
- US Treasuries reversed gains on the back of better-than-expected economic releases, ending weaker overall on Friday. The 4Q2015 GDP was revised higher to 1.0% annualized, from 0.7% projected earlier, while core PCE inflation rose 1.7% yoy in Jan, above 1.5% registered a month prior.
- Ringgit denominated government bonds posted gains on improved bidding interest on Friday. We think that the govvies will remain well supported, if the crude oil prices and Ringgit are able to stabilize, in conjunction with the current low UST yields. Upcoming focus will be on the Jan trade numbers.
- Thai government bonds closed mixed, while yield curve further steepened ahead of weekend. Short dated bonds saw better support, possibly driven by weak exports figure released a day prior. Meanwhile, trading activities were relatively quiet, as daily volume shrank drastically from Bt23.0 billion to Bt11.1 billion.
- Indonesia government bond market was quiet for most of the day on Friday, however nearing closing hours some buying activities were seen especially on the 15- and 20-year buckets, sending yields down by 5bps on average on medium-to-long end of the curve.
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