· Local govies opened in wide bid and ask spread as market bracing for higher volatility t

Good Evening,
Today’s trade recap by our trading desk:-
·         Local govies opened in wide bid and ask spread as market bracing for higher volatility today following soft EM currencies performance against the greenback following hawkish statements by Janet Yellen during the Jackson Hole event which then supported by Fed No 2 Fischer in an interview with CNBC. UST 10y broke 1.60% mark on Friday, signifies a clear public hawkish consensus building after Jackson Hole event. MYR bond trading activities was lacklustre in light trading volume with the yield edging higher by 3-4bps on the belly of the curve.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 2.880 0.0 140 5-yr 3.180 +4.0 100 7-yr 3.465 +3.0 40 10-yr 3.590 +3.0 0 15-yr 3.890 +1.5 50 20-yr 4.155 +3.0 55 30-yr 4.450 +2.0 0 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.300 +0.5 3-yr 3.330 +1.0 5-yr 3.440 +1.5 7-yr 3.570 +1.5 10-yr 3.720 +1.5 Source: Bloomberg, AmBank
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