The day’s
trade recap (from our trading desk):
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· Local govvies opened the week as it
closed; on a subdued tone and relatively light volume. Better
bidders are observed today, mainly in the 5- and 7-y MGS while
there was some sporadic buying in the 10-y. The 15-y attracted much
more interest than usual as the yield dropped 3 bps on the day. WI
was quoted wide at 4.05% - 3.95% with nothing done. Tomorrow’s
auction is expected to see some buying interest from local real
money, with low offshore interest. Over the GG/AAA segment,
Pengurusan Air SPV ‘02/21 traded 3 bps lower to 4.06%, with RM25m
changed hands. Meanwhile, PTPTN ‘08/21 declined 1 bp to 4.10% with
the trading volume of RM25m. Elsewhere in the AA segment, AmIslamic
‘03/20 traded 3 bps lower to 4.37% with a trading volume of RM40m.
Another notable trade in the FI industry is RHB Bank ‘11/17 which
saw the yields declined 13 bps.
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MGS Benchmark Issues
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MGS
|
Closing Level
(%)
|
Chg (bp)
|
Vol (RM m)
|
|
3-yr
|
3.34
|
0
|
1
|
|
5-yr
|
3.64
|
-1
|
370
|
|
7-yr
|
3.79
|
-1
|
259
|
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10-yr
|
3.88
|
-1
|
170
|
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15-yr
|
4.07
|
-3
|
260
|
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20-yr
|
4.20
|
-1
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0
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30-yr
|
4.58
|
-1
|
51
|
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IRS Closing Rates
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IRS
|
Closing Yld (%)
|
Chg
|
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1-yr
|
3.63
|
1
|
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3-yr
|
3.65
|
0
|
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5-yr
|
3.79
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0
|
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7-yr
|
3.95
|
-1
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10-yr
|
4.13
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0
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