7-year MGS auction result
- Today’s reopening auction of 7-year MGS (MGS Aug’23) turned out pretty weak with bid-to-cover ratio at just 1.577 times (tender size of RM3.0 billion). Meantime, average yield at the auction was 3.483%, which was relatively higher against levels of 3.45/39% on the day of the announcement earlier this week (Tuesday 2 Aug) and 3.47/46% this morning.
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