Tuesday, May 24, 2016

Fixed Income Daily Pulse, 23 May 2016


Today’s trade recap by our trading desk:-


·         Quiet start to the week with not much trading done in the market as MYR traded sideways at 4.0800 levels in the absence of market moving factors. Focus was on the new 10.5Y MGS auction this morning which saw a strong BTC of 2.193x, averaging at 3.900. The auction garnered strong demand from both local and foreign accounts. Post auction, the stock was traded near auction low around 3.88 level. Yield curve ended the day largely unchanged from last Friday’s closing.

Malaysia Government Bonds Benchmark Issues
MGS
Closing Level (%)
Change (bp)
Volume (RM m)
3-yr
3.245
+1.0
10
5-yr
3.380
-2.0
443
7-yr
3.770
+0.5
60
10-yr
3.885
+4.0
1130
15-yr
4.205
+1.0
100
20-yr
4.315
-
-
30-yr
4.675
0.0
10
Source: BondStream, AmBank

Interest Rate Swap Closing Rates
IRS
Closing Yield (%)
Change (bp)
1-yr
3.595
0.0
3-yr
3.620
+2.0
5-yr
3.700
0.0
7-yr
3.855
0.0
10-yr
4.025
+0.5
Source: Bloomberg, AmBank


Local News:

·         None.

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