· The week started with local govvies continue to weaken further due to the bearishness globally in the bond market. Selling pressure fr

Good Evening,
Today’s trade recap by our trading desk:-
·         The week started with local govvies continue to weaken further due to the bearishness globally in the bond market. Selling pressure from foreign account intensified today with the yields rising throughout the tenor for both MGS and GII curves. Today, BNM conducted the reopening RM 3.0 Billion 7-year GII 7/23 auction garnering a bid-to-cover of 2.07x and averaging at 4.094%. Post tender, as market continue to be bearish as there was slight selling on the stock pushing the yield to close at 4.155%.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.600 +11.0 84 5-yr 4.000 +33.5 432 7-yr 4.090 +17.0 304 10-yr 4.180 +17.0 226 15-yr 4.590 +12.5 655 20-yr 4.725 +19.0 70 30-yr 4.785 +8.0 160 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.500 +11.0 3-yr 3.660 +8.5 5-yr 3.935 +12.0 7-yr 4.025 +10.0 10-yr 4.200 +10.0 Source: Bloomberg, AmBank
Local News:
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