Good Morning,
Market Roundup
- Crude oil rally and position unwinding due stronger risk appetite pushed the US Treasury yields higher by 3-8bps along the curve. Also, we think that players are repositioning ahead of the nonfarm payroll report scheduled on Friday.
- Malaysian govvies held firmer alongside MYR strength, with the recent upticks in Brent crude oil prices. At this juncture, we still see better buyers in the market, particularly from the offshore. Elsewhere, the IRS rates continued to pare lower on the back of ample liquidity in the market.
- THB denominated government bonds extended losses on Thursday, despite the foreign players net bought Bt923 million of bonds on Thursday. The LBA37DA was under selling pressure post Wednesday’s auction, peaked at 3.70% in morning session, however the yield dipped to 3.64% late Thursday on better demand.
- IDR government bond market traded down when market opened as foreign bank did some selling action, YC went up 5-7 bps. However market was resilient as bidding interest appeared after 10yr yield went above 7%, market keep bid 10yr at around 7% level with local names seen in bid side, as a resullt YC only went up 1-3 bps at close. Trading volume was average amounting IDR 13.7 trillion and driven by FR71 and FR70.
- Asian dollar credits moved in mixed directions amid cautious trading, due to the Greek debt concern, alongside the nonfarm payroll release slated for Friday.
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