Wednesday, March 15, 2017

· Slight pick-up in activity in the local govvies market today des

Today’s trade recap by our trading desk:-

·         Slight pick-up in activity in the local govvies market today despite UST selling off overnight by 4bps to 2.62% level. Foreign driven buying flows were seen amongst 5-10y MGS benchmarks as the belly of the curve was sent 3-7bps lower while GII space saw no trades at all in the market today. Apart from trades done on the belly of the MGS curve, rest of the curve was pretty quiet with yields unchanged. Trades remained lackluster in view of upcoming FOMC rate decision due tomorrow night.


Malaysia Government Bonds Benchmark Issues
MGS
Closing Level (%)
Change (bp)
Volume (RM m)
3-yr
3.500
-
42
5-yr
3.870
-2.5
34
7-yr
4.050
7
400
10-yr
4.150
-5.5
137
15-yr
4.605
+1.0
13
20-yr
4.735
-
20
30-yr
4.865
-
40
Source: BondStream, AmBank
Interest Rate Swap Closing Rates
IRS
Closing Yield (%)
Change (bp)
1-yr
3.550
1.0
3-yr
3.698
0.2
5-yr
3.875
0.0
7-yr
3.980
1.0
10-yr
4.130
1.0
Source: Bloomberg, AmBank

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