· The market started the week in a rather subdued manner as trades were lackluster with th

Today’s trade recap by our trading desk:-
·        The market started the week in a rather subdued manner as trades were lackluster with the yields closing relatively unchanged except for the 3y MGS dropping 3.5bps. Most traders remained cautious and stayed on the sidelines with a wait-and-see stance. Last Friday, it was reported that US 2nd Qtr GDP (QoQ) increased 2.6% missing the market forecast of 2.7%. Meanwhile, there was a slight downward revision for last year’s GDP to 1.5% from the 1.6% which the government estimated earlier showing the slowest growth since 2007-2009 recession ends.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.310 -3.5 226 5-yr 3.705 - 21 7-yr 3.920 - 51 10-yr 4.000 - - 15-yr 4.415 - 89 20-yr 4.575 - 35 30-yr 4.800 - 22 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.498 -0.2 3-yr 3.645 -0.5 5-yr 3.760 -0.5 7-yr 3.875 0.5 10-yr 4.000 0.5 Source: Bloomberg, AmBank