Main focus today was on the BNM tender for the 7y MGS reopening which was very well received posting a healthy BTC of 2.88x av

Today’s trade recap by our trading desk:-
·         Main focus today was on the BNM tender for the 7y MGS reopening which was very well received posting a healthy BTC of 2.88x averaging at 3.919%. However, the market started to trade sideways post tender in light trading volume. Yields closed mostly unchanged except for the 7y and 15y paper which eased 1.5bps lower.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.410 - 12 5-yr 3.700 - 3 7-yr 3.925 -1.5 30 10-yr 3.965 - 40 15-yr 4.440 - - 20-yr 4.600 -1.5 2 30-yr 4.780 - 15 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.505 -0.5 3-yr 3.655 1.0 5-yr 3.760 -1.0 7-yr 3.870 0.5 10-yr 4.015 -0.5 Source: Bloomberg, AmBank