Friday, February 3, 2017

· Trading activities improved significantly as more market participants are returning back from holiday. We noticed foreigners were selling the short to belly of the curve while there were buying interests on the 7y to 15y tenor.


Good Evening,

Today’s trade recap by our trading desk:-

·         Trading activities improved significantly as more market participants are returning back from holiday. We noticed foreigners were selling the short to belly of the curve while there were buying interests on the 7y to 15y tenor. Overnight, Fed gave no hint on the timing of the next hike but kept its mildly upbeat on the economic view while maintaining the Fed rate in a range of 0.50%-0.75% as expected. As a result, there was a slight pullback on UST 10y and US Dollar weakened across board. Ringgit strengthened to close at 4.4230 today.


Malaysia Government Bonds Benchmark Issues
MGS
Closing Level (%)
Change (bp)
Volume (RM m)
3-yr
3.360
+5.5
58
5-yr
3.655
+3.5
413
7-yr
3.960
-3.0
157
10-yr
4.140
-4.0
200
15-yr
4.525
-3.0
76
20-yr
4.745
-
24
30-yr
4.825
-
19
Source: BondStream, AmBank
Interest Rate Swap Closing Rates
IRS
Closing Yield (%)
Change (bp)
1-yr
3.495
-0.5
3-yr
3.650
-0.5
5-yr
3.795
-2.0
7-yr
3.905
0.0
10-yr
4.070
0.0
Source: Bloomberg, AmBank

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