Good evening,
The day’s
trade recap (from our trading desk):
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· The new MGS 5-year auction today has a
bid-to-cover of 1.778x, with an average yield of 3.659%. WI was
trading as low as 3.60%-3.62% until selling pressure pushed levels
above 3.65% prior to auction closing. Post auction, trading was
muted on the MGS ‘10/20 with few trades being done. Otherwise, the
govvies market has been very quiet throughout the whole day even
though the yield curve shifted upward slightly. Over the GG/AAA
segment, Rantau Abang Capital ‘03/29 and ‘05/31 declined 12 and 7
bps to 4.66% and 4.79%, with a collective trading volume of RM28m.
Meanwhile, Genting Capital ‘06/22 declined 8 bps to 4.95%.
Elsewhere in the AA segment, the trading activity is lighter than
the previous trading session. Notable trade is BGSM Management
‘12/23, which were well bidded with the yields closed 17 bps lower
to 4.93%.
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MGS Benchmark Issues
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MGS
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Closing Level
(%)
|
Chg (bp)
|
Vol (RM m)
|
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3-yr
|
3.35
|
+1
|
15
|
|
5-yr
|
3.66
|
+4
|
1914
|
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7-yr
|
3.82
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+5
|
120
|
|
10-yr
|
3.89
|
+1
|
20
|
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15-yr
|
4.12
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+3
|
0
|
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20-yr
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4.22
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+2
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0
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30-yr
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4.58
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+1
|
2
|
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IRS Closing Rates
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IRS
|
Closing Yld (%)
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Chg
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1-yr
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3.62
|
0
|
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3-yr
|
3.65
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0
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5-yr
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3.76
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0
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7-yr
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3.93
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0
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10-yr
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4.09
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0
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