Wednesday, February 15, 2017

· BNM conducted the tender for the 7Y GII new issue maturing August 2024 which closed with a very strong BTC of 3.123x, averaging 4.045

Today’s trade recap by our trading desk:-

·         BNM conducted the tender for the 7Y GII new issue maturing August 2024 which closed with a very strong BTC of 3.123x, averaging 4.045 with a tight tender range of 4.05-4.03. It was traded at 4.07-4.04 in WI market prior to tender closing time this morning. Post auction, the bond was traded slightly lower at 4.022% level. There were also strong foreign buying interests on the current 3y and 7y GII benchmark this morning. Overall today, MGS and GII yield eased lower by roughly 1-2bps as bids were firmer today.


Malaysia Government Bonds Benchmark Issues
MGS
Closing Level (%)
Change (bp)
Volume (RM m)
3-yr
3.360
-2.0
-
5-yr
3.705
-2.0
27
7-yr
3.920
-2.0
215
10-yr
4.110
-2.0
-
15-yr
4.540
-1.5
48
20-yr
4.665
0.0
20
30-yr
4.780
-2.0
40
Source: BondStream, AmBank
Interest Rate Swap Closing Rates
IRS
Closing Yield (%)
Change (bp)
1-yr
3.490
0.0
3-yr
3.650
-0.5
5-yr
3.805
0.5
7-yr
3.915
0.0
10-yr
4.080
1.0
Source: Bloomberg, AmBank

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