Tuesday, March 14, 2017

· Market has been through continuous selling pressure over the past few days and saw


Good Evening,

Today’s trade recap by our trading desk:-

·         Market has been through continuous selling pressure over the past few days and saw yields rising across the curve. Today, some bargain hunters came out looking for cheap stocks while some others were still skeptical as UST10y broke the 2.60% psychological barrier and hovered around there today. Local govvies curve eased by 1-3bps at the belly on thin trades. NFP data to be released tonight could be a game changer for next week’s rate decision by the FOMC and strong jobs data is one of the most important factor before rates are raised. Market consensus is expecting +200k after a strong ADP data two days ago.  


Malaysia Government Bonds Benchmark Issues
MGS
Closing Level (%)
Change (bp)
Volume (RM m)
3-yr
3.525
+7.5
104
5-yr
3.895
-1.0
25
7-yr
4.120
-3.5
158
10-yr
4.190
-1.5
71
15-yr
4.585
-2.0
221
20-yr
4.735
-1.5
41
30-yr
4.865
-
-
Source: BondStream, AmBank
Interest Rate Swap Closing Rates
IRS
Closing Yield (%)
Change (bp)
1-yr
3.550
0.5
3-yr
3.712
1.9
5-yr
3.870
0.0
7-yr
3.973
0.8
10-yr
4.110
3.0
Source: Bloomberg, AmBank

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