Good Morning,
Market Roundup
- US Treasuries pared gains on the back positive data points from the continuous jobless claims, as well as the expansion in factory orders. Meanwhile, players were also seen taking profit amid cautious sentiment well ahead of the NFP report slated for Friday. On top of that, we noted strong support level at 1.85% for the 10T for the recent two weeks.
- Still see better buyers in Ringgit govvies, with flows slanted towards MGS Sep’22 and GII May’24. Elsewhere, daily volume dipped from RM7.4 billion to RM6.2 billion, amid thin profit taking activities after the long rally.
- Thai government bond yield curve inched lower, reacting to the weaker-than-expected headline inflation reported a day ago. Players were seen better buyers along longer dated bonds, after seeing the front end yields compressed nearer to the policy rate of 1.75%. Elsewhere, daily transaction dropped from Bt25.9 billion to Bt20.8 billion on Thursday.
- Indonesia government bond market opened higher 25-35c in price as USDIDR traded below 13,000. Market kickstarted with biddish tone, with buying action seen in belly to long end of the curve. However players did some profit taking action nearing lunch break, pressuring bond prices to go down. At London opening hours market rebounded again and after that bond traded in tight range until closed. Trading volume halved on Thursday before Good Friday Holiday amounting IDR7.7 trillion only.
- Asian dollar credits ended marginally tighter, guided by overnight UST rally, amid thinner flows heading towards Good Friday. Petrol 25 was seen quoted 1bp wider at 138bps, after tightened to 137bps a day before, while Beijing Capital Apr’18 widened by 1bp to 216bps.
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