As global yields continue to drop to record lows overnight, the local bond market followed suit.

Today’s trade recap by our trading desk:-
·         As global yields continue to drop to record lows overnight, the local bond market followed suit. Buying spree continue today on the 7Y and 10Y benchmarks. Due to the dry liquidity in the market, prices moved up quickly on the back of consistent buying flows. Volume traded in the market today was heavy on the 7-10Y benchmarks, with the yield curve being pushed down a further 5-7bps. WI was quoted tight at 4.63-60 at close today with nothing done.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.175 -3.0 132 5-yr 3.415 -1.5 50 7-yr 3.665 -7.0 843 10-yr 3.775 -8.5 621 15-yr 4.135 -5.0 110 20-yr 4.295 - - 30-yr 4.640 -13.0 - Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.510 -4.5 3-yr 3.510 -4.0 5-yr 3.585 -4.5 7-yr 3.710 -5.0 10-yr 3.870 -6.0 Source: Bloomberg, AmBank
Local News:
·         None.