CIMB Fixed Income Updates 23 May 2016 - 10-year MGS auction

10-year MGS auction result

• The new 10-year MGS benchmark auction was well received, with bid-cover of 2.193 times for its RM4.0 billion issue size. Despite the firm interest, average yield stopped at 3.90%, skewed toward the higher end of a spread of 3.878-3.910%, whilst higher than the WI level 3.88/86% quoted last week.