The local bond market continued to be lacklustre today with very limited trades. Mos

Today’s trade recap by our trading desk:-
·         The local bond market continued to be lacklustre today with very limited trades. Most trades done were on the front end of the curve with yields largely unchanged apart from the 10Y MGS at 4.5bps higher. There was a reopening auction on the 10Y MGS today which closed with a decently strong BTC at 2.654x, averaging at 4.465%. Bids were mostly from local real money funds while the foreigners stayed out of this auction after recent events which triggered a bond rout.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.895 +2.0 132 5-yr 4.090 0.0 15 7-yr 4.335 0.0 8 10-yr 4.465 -4.5 390 15-yr 4.880 - - 20-yr 5.005 0.0 6 30-yr 5.000 - - Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.600 1.5 3-yr 3.735 0.0 5-yr 3.900 0.5 7-yr 4.000 -2.5 10-yr 4.180 0.0 Source: Bloomberg, AmBank
Local News:
None.