FW: Fixed Income Daily Pulse - 21 February 2018

 

 

Good Evening,
Today’s trade recap by our trading desk:-
·         Trading activities improved in the local bond space today, after a few muted sessions over the past few days. While flows were spread across the curve, market interests was slightly skewed towards the short-end to the belly of the curve. Despite MYR extending its decline today towards 3.9080 levels, bidding interest for specific short-end 18s & 19s stocks remained strong as market players expect MYR to strengthen ahead of elections. BNM on the other hand, announced switch auction today which will see MGS 9/18 repurchased and to be replaced with MGS 11/26 (RM450mio) and MGS 4/26 (RM550mio) next Monday. On the global front, FOMC Meeting Minutes will be released tomorrow, which may potentially drive the local market tomorrow.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.385 - 21 5-yr 3.600 +1.0 163 7-yr 4.000 -0.5 110 10-yr 4.060 +3.0 102 15-yr 4.505 +0.5 121 20-yr 4.665 +2.5 21 30-yr 4.880 - 20 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.760 0.0 3-yr 3.835 0.0 5-yr 3.930 0.2 7-yr 4.045 0.0 10-yr 4.170 0.0 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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