· MYR bonds saw slightly firmer prices in the market today on the back of US GDP QoQ number coming in a lot lower than expected at 1.2% vs 2.5%. UST 10Y dropped to 1.45% on close

Good Evening,
Today’s trade recap by our trading desk:-
·         MYR bonds saw slightly firmer prices in the market today on the back of US GDP QoQ number coming in a lot lower than expected at 1.2% vs 2.5%. UST 10Y dropped to 1.45% on close at Friday while USD weakness across the board saw MYR gaining strength to close at 4.0200 today. Liquidity remained thin in the local bond space as yield curve was shifted downwards by 2-3bps at the belly.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 2.920 0 73 5-yr 3.210 0 111 7-yr 3.380 -2.0 147 10-yr 3.590 -2.0 2 15-yr 3.900 -3.0 174 20-yr 4.185 0 12 30-yr 4.510 -1.0 37 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.340 -1.5 3-yr 3.360 -3.0 5-yr 3.475 -2.5 7-yr 3.610 -3.5 10-yr 3.790 -2.0 Source: Bloomberg, AmBank
Local News:
·        Nikkei Malaysia PMI posted at 48.1, slightly up from 47.1 in the June, reflecting softer declines in output, new orders and stocks of purchases. Buying activity dropped at a weaker whilst goods producers reduce staff members in July at a marginal rate.