FW: Fixed Income Daily Pulse - 17 November 2017

 

 

Good Evening,
Today’s trade recap by our trading desk:-
·         The local bond space was relatively quiet today in anticipation of Malaysia’s 3Q GDP data release. Bond prices were quoted 1-3bps higher with flows mostly focused on the short ends of the curve as MYR continues its strength today. Malaysia posted a 3Q GDP of 6.2% YoY which is substantially higher than consensus’ expectation (5.7%). Post GDP print, rates were quoted 1-2 bps higher together with bonds but trading activity remained muted towards the end of the day. On the other hand, the surprise further boosted MYR’s strength to 4.1580 levels before easing to 4.1620 level at day end. Expecting MGS 15y reopening auction with RM2.5-3.0 bio to be issued.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.570 +3.0 109 5-yr 3.780 - - 7-yr 3.990 +1.5 - 10-yr 4.000 +1.5 1 15-yr 4.670 -6.0 9 20-yr 4.800 +2.0 12 30-yr 4.975 - 53 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.650 1.0 3-yr 3.770 1.5 5-yr 3.858 1.3 7-yr 3.970 -0.5 10-yr 4.090 0.5 Source: Bloomberg, AmBank

 

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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