Market
Roundup
- US Treasuries closed weaker ahead of Tuesday holiday with drivers in the coming week being US government auctions to gauge current demand for the safer haven US securities.
- The US dollar strengthened on Monday, boosted by falling crude oil prices and stronger risk appetite for equities. EUR/USD was spotted 1.2424 this morning against 1.2507 overnight and 2.2405 last Friday. An early rally in oil futures Monday was reversed after OPEC said it would not reduce production to boost oil prices.
- MGS benchmark yields dipped marginally along the curve, amid lacklustre trading interest, as players were waiting for cue from fresh economic releases this week – namely September industrial production and 3Q2014 GDP figures.
- Thai govvies posted gains, supported by players’ buying-on-dips interest, after seeing the sovereign yields surged before weekend. Local players recorded total net buying amount of Bt8.1 billion on Monday. Despite the strong support from local players, daily volume edged higher from Bt9.7 billion to Bt10.8 billion.
- On Monday, Indonesian government bonds traded up in thin volume especially along the bellies to far end of the yield curve. Market activity was focused on the 10-year and 15-year buckets, with some smaller transactions seen in shorter dated tenures less than 5-year.
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