· After being muted for about 2 weeks, market activity is seen picking up today w

Today’s trade recap by our trading desk:-
·         After being muted for about 2 weeks, market activity is seen picking up today with some buying flows on the MGS benchmarks at the belly towards the back end of the curve. Hearing foreign flows driving this buying spree in the market on the back of UST yields easing 6bps overnight. Traded volume remained thin as the yield curve eased 1-2bps at the belly. New issuance for 20Y MGS was announced today as well with RM2.0bio up for auction and another RM1.0bio privately placed. No WI price was quoted so far.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.545 0.0 101 5-yr 3.815 -1.0 0 7-yr 4.020 -2.0 117 10-yr 4.125 -2.0 160 15-yr 4.480 -4.0 156 20-yr 4.665 0.0 6 30-yr 4.800 0.0 - Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.575 1.5 3-yr 3.725 -1.0 5-yr 3.865 -2.0 7-yr 3.965 -0.5 10-yr 4.090 -1.5 Source: Bloomberg, AmBank