Govvies market saw mixed trades today as there were flows switching out of the back end of the curve into the belly and short end

Good Evening,
Today’s trade recap by our trading desk:-
·         Govvies market saw mixed trades today as there were flows switching out of the back end of the curve into the belly and short end. This resulted in the MGS curve steepening today with the back end rising by 1-3bps while the belly eased by 3bps; in tandem with UST yields dropping overnight on soft data. High volumes trades were focused on the short end of the curve (2017s mainly), driven mainly by foreign demand as MYR strengthened by 300pips today to 4.1920 levels.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.020 +2.0 73 5-yr 3.320 -3.0 61 7-yr 3.540 +1.0 27 10-yr 3.630 0.0 23 15-yr 4.080 +1.0 200 20-yr 4.240 +8.0 92 30-yr 4.520 +4.0 0 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.370 -0.5 3-yr 3.435 -2.0 5-yr 3.575 -4.0 7-yr 3.755 -2.0 10-yr 3.970 -1.0 Source: Bloomberg, AmBank
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