· The local govvies market today was dominated by the 10Y GII new issue which closed with a very strong BTC of 3.413x, averaging 4.258. Before auction clos

Today’s trade recap by our trading desk:-
·         The local govvies market today was dominated by the 10Y GII new issue which closed with a very strong BTC of 3.413x, averaging 4.258. Before auction closed, WI saw slight selling pressure and was given to 4.27% level. However, local real money funds came in strong in the auction which resulted in a high BTC and tight high-low range. Post auction, the bond was traded even lower at 4.216% level. Coupled with the strong demand on the new GII, MGS space saw decent trades today as well as the belly eased by 2-3bps.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.295 - 29 5-yr 3.640 - - 7-yr 3.950 -2.5 60 10-yr 4.130 -3.0 213 15-yr 4.565 +2.0 46 20-yr 4.745 - - 30-yr 4.825 - - Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.480 0.5 3-yr 3.645 1.0 5-yr 3.790 1.0 7-yr 3.880 0.5 10-yr 4.055 0.5 Source: Bloomberg, AmBank
Local News:
·         None.