· 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