The slight rally in the market yesterday was halted today after Janet Yellen’s comments overnight where there was signs of her tu

Good Evening,
Today’s trade recap by our trading desk:-
·         The slight rally in the market yesterday was halted today after Janet Yellen’s comments overnight where there was signs of her turning hawkish; the UST10Y resulted 10bps higher at the end of the day. When the local market opened this morning, bond prices were softer slightly, with the yield curve 3-4bps higher during lunch time. However, once EU markets opened, there was some buying momentum from foreign accounts which saw yields ease slightly and ended the day largely unchanged. BNM also kept the OPR rate unchanged at 3.00% today as expected by the market.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.320 -2.5 3 5-yr 3.735 - 110 7-yr 4.090 +1.0 168 10-yr 4.270 +1.5 63 15-yr 4.715 +2.5 89 20-yr 4.815 - 29 30-yr 4.865 - 42 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.495 0.2 3-yr 3.660 1.0 5-yr 3.810 0.5 7-yr 3.930 1.5 10-yr 4.100 0.0 Source: Bloomberg, AmBank
Local News:
·         None.