FW: Fixed Income Daily Pulse - 14 February 2018

 

 

Good Evening,
Today’s trade recap by our trading desk:-
·         Trading activities in the local bond market remained subdued today as market players took to the sidelines in anticipation of US January CPI data tonight (F: 0.3%; P: 0.1%). Flows were largely skewed towards the short-end to the belly of the curve with market interest favoring specific benchmark stocks like MGS 11/27 and GII 4/22. Malaysia’s Q4 and full year GDP was also released today, slightly above consensus expectations at 5.90% (F: 5.80%). Market reaction was rather lukewarm with many local players on holiday ahead of this weekend’s Lunar New Year. MYR on the other hand traded stronger today against the greenback, in line with regional peers coupled with a strong growth number for 2017.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.405 -2.0 235 5-yr 3.590 -2.5 245 7-yr 3.965 - 90 10-yr 4.000 +2.0 195 15-yr 4.465 +1.5 30 20-yr 4.640 +3.5 - 30-yr 4.880 -0.5 37 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.755 0.5 3-yr 3.815 0.0 5-yr 3.900 -0.5 7-yr 4.000 -1.0 10-yr 4.120 -1.0 Source: Bloomberg, AmBank

 

Best regards,

Fixed Income Research & Strategy

AmBank Research, AmBank (M) Berhad

+603 2036 2255 (DL) +03 2031 7218 (Fax)

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

 

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