Market activity started to pick up today and we noticed some foreign driven buying flows across MGS benchmarks at the belly on light volume. Yield curve eased 1.5bps by the end of the day. BNM conducted the tender for the 20Y

Today’s trade recap by our trading desk:-
·         Market activity started to pick up today and we noticed some foreign driven buying flows across MGS benchmarks at the belly on light volume. Yield curve eased 1.5bps by the end of the day. BNM conducted the tender for the 20Y GII new issue maturing August 2037 which closed with a decent BTC of 1.784x, averaging at 4.755% ranging at 4.755 to 4.783%. Post auction, it was traded at 4.755% in small amount.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.290 - - 5-yr 3.695 -1.0 2 7-yr 3.915 -1.5 31 10-yr 4.000 -1.0 - 15-yr 4.405 -1.0 20 20-yr 4.575 - 0 30-yr 4.800 - - Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.493 -0.7 3-yr 3.640 -1.6 5-yr 3.755 -1.0 7-yr 3.875 0.0 10-yr 4.000 0.0 Source: Bloomberg, AmBank