Donald Trump was inaugurated last Friday as the 45th US President. However, his inauguration speech lacked any concrete policy details as the world awaits to see his first days in office. USD weakened across the boards at open today subsequently. The local govvies continue to see a rally today across the curve, led by buying flows on the 15Y MGS, w

Today’s trade recap by our trading desk:-
·         Donald Trump was inaugurated last Friday as the 45th US President. However, his inauguration speech lacked any concrete policy details as the world awaits to see his first days in office. USD weakened across the boards at open today subsequently. The local govvies continue to see a rally today across the curve, led by buying flows on the 15Y MGS, which send yields down by 6.5-8 bps on the belly while the rest of the curve eased by 4bps. Trading activity was concentrated on the belly of the curve on as demand was seen on the 7Y -15Y benchmarks. The new issue for 10Y GII was also announced today, with RM4bio to be issued this Wednesday. WI was last quoted 4.32-27 with nothing done
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.295 -1.0 0 5-yr 3.640 -6.0 71 7-yr 3.995 -8.0 0 10-yr 4.160 -6.5 0 15-yr 4.555 -8.5 0 20-yr 4.745 -4.5 0 30-yr 4.825 -4.0 1 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.485 -1.0 3-yr 3.630 -2.7 5-yr 3.785 -2.0 7-yr 3.885 -3.5 10-yr 4.060 -3.0 Source: Bloomberg, AmBank
Local News:
·         None.