Market
Roundup
- US Treasury yields continued to surge higher, led by the higher-than-expected CPI which rose by +0.4% MoM in May, beating consensus estimate of +0.2% MoM. However, 2-year note stood pretty firm, hovered around 0.47-0.48% as compared to the longer dated bonds.
- MGS yields declined along the short and medium term bonds, while trading volume remained low at RM1.7 billion. Morning session was relatively active, as players were seen bargain hunting on the 10-year MGS. Apart from that, we also saw some buying interest on off-the-run papers.
- Thai government bond market was seen with thinner volume, as the daily volume edged down by about Bt1 billion to Bt17 billion on Tuesday. We saw trend reversal as the sovereign yields surged a tad higher, scaling back the gains posted a day ago. Aside, we noted improved trading interest on the longer dated LB236A, amounted to Bt5.2 billion.
- IDR denominated government bond moved in mixed ways with negative tendency on Tuesday along with rupiah weakening. Meantime, players awaited the Fed meeting result as well. The market booked total trading volume of IDR8.38 trillion, not much different from previous day. The benchmark series led the market, namely 10-year FR70 (IDR1.59 trillion) and 15-year FR71 (IDR1.76 trillion).
- Asian dollar credit spreads widened amid concern on the FOMC meeting outcome this week. New issues were under the limelight, as the PTTEP perps inched up by 0.04pt due to buying-on-dips activities. Aside, GS Caltex Jun’19 was traded 2bps wider to 130bps.
Best Regards,
CIMB Fixed Income Research
Corporate Banking, Treasury and Markets
Tel: +603 2261 8888 | Fax: +603 2261 8705
www.cimb.com
Connect with us on Facebook: www.facebook.com/CIMBGroup or follow us on Twitter: www.twitter.com/CIMB_Assists
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.