FW: Fixed Income Daily Pulse - 25 September 2017

 

Good Evening,
Today’s trade recap by our trading desk:-
·         Selling pressure from the week before in the bond market has halted and took a turn today. Prices were firmer across the board with buying flows seen amongst benchmarks at the belly. The 5Y MGS which was hit the worst last week, eased 5bps while the rest of the curve eased by 1-2bps. Traded volume remained rather thin apart from the 5Y MGS 3/22 which saw over RM600mio traded. Expect market to stabilize and trade range this week with not much event/data risk during the week.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.375 -1.5 51 5-yr 3.550 -5.0 3 7-yr 3.805 -1.0 5 10-yr 3.900 -1.5 7 15-yr 4.310 -1.5 3 20-yr 4.520 -2.0 50 30-yr 4.795 - - Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.500 -0.5 3-yr 3.590 -2.0 5-yr 3.715 0.0 7-yr 3.830 -0.5 10-yr 3.970 -0.5 Source: Bloomberg, AmBank