Market
Roundup
- US Treasuries strengthened during midweek, as the stronger buying-on-dips interest was paired with good demand in the 5T auction. 2T was relatively firm, inched up by 1bp to 0.44% despite the strengthening.
- Ringgit government bond market remained thinly traded, whilst trading activities were slanted towards the shorter ends.
- THB denominated government bonds were traded in mixed direction, amid lacking of major market drivers. Despite that, market was well supported as both local and foreign players continued showing net buying interest.
- IDR denominated government bond market still moved in narrow range on Wednesday. Trading activities declined drastically from IDR10.50 trillion to IDR6.16 trillion only on the day. We found that 5-year FR69 and 10-year FR70 led the market volume about IDR2 trillion and IDR1.15 trillion respectively. Other series were dealt thinly below IDR550 billion each series. Ahead of important economy data release early next week, players may still take cautious move.
- Asian Dollar credits garnered gains as investors showed higher risk appetite, after being sidelined for a while since defaulted news spread from China. Wanda Properties Nov’18 and China Merchant Dec’18 inched up to 96.97pts and 101.03pts respectively, whilst Indian financial credits Bank of Baroda Jul’19 and IDBI Sep’19 strengthened to 102.24pts and 100.52pts each.
Best Regards,
CIMB Fixed Income Research
Corporate Banking, Treasury and Markets
Tel: +603 2261 8888 | Fax: +603 2261 8705
www.cimb.com
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