A very quiet start to the week as market is still uncertain of the direction its heading with issues over 1MDB still pending

Today’s trade recap by our trading desk:-
·         A very quiet start to the week as market is still uncertain of the direction its heading with issues over 1MDB still pending. Local bond market saw softer prices and gained 1.5-2.5 bps on the curve on very light volume. MYR weakened further to 4.0700 levels with markets in a risk off mode in tandem with dropping oil prices.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 2.890 0 99 5-yr 3.230 0 5 7-yr 3.495 +1.5 100 10-yr 3.655 +2.5 40 15-yr 3.970 +2.5 80 20-yr 4.200 - - 30-yr 4.525 +0.5 151 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.370 0.0 3-yr 3.410 0.5 5-yr 3.500 -0.5 7-yr 3.650 0.0 10-yr 3.810 -1.0 Source: Bloomberg, AmBank
Local News:
·        None.