On the back of a USD weakness across the board overnight after Trump commented that the USD is too strong, MYR strengthened by c.200pips today to 4.4450 levels. This is also after UK PM Theresa May delivered her speech yesterday

Today’s trade recap by our trading desk:-
·         On the back of a USD weakness across the board overnight after Trump commented that the USD is too strong, MYR strengthened by c.200pips today to 4.4450 levels. This is also after UK PM Theresa May delivered her speech yesterday evening with details on Brexit, listing out her plans while saying the parliament will vote on each initiative before execution. The market took this positively and the govvies market saw firmer prices today, with buying interest across the curve up to the 15Y tenors. Traded volume picked up and liquidity improved tremendously today as the yield curve eased 2-3bps across apart from the 3Y which rose 2.5bps.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.345 +2.5 33 5-yr 3.735 -3.0 90 7-yr 4.080 -3.5 272 10-yr 4.255 -2.0 70 15-yr 4.690 -3.5 233 20-yr 4.815 -2.0 20 30-yr 4.865 -3.5 30 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.493 0.2 3-yr 3.650 -0.5 5-yr 3.805 -0.5 7-yr 3.915 -1.5 10-yr 4.110 -1.0 Source: Bloomberg, AmBank
Local News:
·         None.