Friday, February 17, 2017

· In the local bond market, there was some buying flows on the back end of the MGS c

Today’s trade recap by our trading desk:-

·         In the local bond market, there was some buying flows on the back end of the MGS curve with the yields dropping by 0.5-3 bps while the trading activities on the short to belly of the curve was pretty much muted. There was more trading actions in the GII space with trade focused on 7y and above as some yield hunters were looking for papers with yield pick-up. Malaysia GDP figure was released during lunchtime with the 4th Qtr 2016 showing better than market forecast at +4.5% against +4.4%; while the GDP for the year 2016 was as expected at +4.2%. Ringgit closed slightly weaker at 4.4550.


Malaysia Government Bonds Benchmark Issues
MGS
Closing Level (%)
Change (bp)
Volume (RM m)
3-yr
3.400
-
-
5-yr
3.700
-
74
7-yr
3.925
-
186
10-yr
4.100
-3.0
266
15-yr
4.520
-0.5
466
20-yr
4.650
+2.0
72
30-yr
4.780
-
4
Source: BondStream, AmBank
Interest Rate Swap Closing Rates
IRS
Closing Yield (%)
Change (bp)
1-yr
3.490
-0.5
3-yr
3.630
+0.0
5-yr
3.805
-0.5
7-yr
3.915
+0.0
10-yr
4.080
+0.0
Source: Bloomberg, AmBank

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