· Donald Trump signed an executive order overnight to withdraw the TPP agreement while US Treasury Secretary nominee Mnuchin said an excessively strong USD may have a negative impact on the economy. The USD resultantly continu

Good Evening,
Today’s trade recap by our trading desk:-
·         Donald Trump signed an executive order overnight to withdraw the TPP agreement while US Treasury Secretary nominee Mnuchin said an excessively strong USD may have a negative impact on the economy. The USD resultantly continue to weaken across while UST yields dropped overnight by 5bps. In tandem with the dropping in yields dropping globally, local govvies started the day strong and saw a rally of 4-5bps across the curve before lunch. However, during the afternoon session, profit taking activities by traders in the market saw the gains given back. Yield stayed unchanged from yesterday’s close. On the upcoming new 10Y GII issue tomorrow, WI was traded at 4.25 and 4.235 levels today with small volume done.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.295 - 34 5-yr 3.640 - 335 7-yr 3.975 +2.0 171 10-yr 4.160 - 322 15-yr 4.545 -1.0 376 20-yr 4.745 - 40 30-yr 4.825 - 0 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.475 -1.0 3-yr 3.635 0.5 5-yr 3.780 -0.5 7-yr 3.875 -1.0 10-yr 4.050 -1.0 Source: Bloomberg, AmBank
Local News:
·         None.