Wednesday, November 22, 2017

FW: FI Research -Re-opening of 15-year MGII

 

 

 

Dear Readers,

 

Highlights of the report as follow:-

 

·         The re-opening of the 15-year MGS maturing 15 April 2033 with a size of RM2.0bil recorded a strong bid-to-cover (BTC) ratio of 3.811 times. This BTC ratio was much higher compared to the previous re-opening on 28th April 2017 of 2.057%.

·         Foreign demand for Malaysian bonds has been aided by the stronger ringgit, having strengthened to its highest in more than a year so far, following Malaysia’s robust 3QGDP growth which had also increased chances for a BNM rate hike in 2018. 

·         The next tender to watch is the re-opening of the 5-year MGII in November 2017. It will be the last MGII re-opening for 2017. The last issuance of such papers was the 5-year MGII ‘08/21 in July 2016 which reported a 2.454 times BTC ratio.

 

 

Best regards,

Fixed Income Research & Strategy

AmBank Research, AmBank (M) Berhad

+603 2036 2292 (DL) +03 2031 7218 (Fax)

Level 15, Bangunan AmBank Group, 55 Jalan Raja Chulan, 50200 Kuala Lumpur

 

 

 

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