Fixed Income Daily Pulse, 29 April 2015

The day’s trade recap (from our trading desk):

·         The trading volume continued to dwindle today. With FOMC meeting outcome releasing tonight and the public holiday of Japan, the local govvies market suffered an agonisingly quiet day with sentiments slightly bearish as market players keep a watchful night on the FOMC meeting outcome. There was a short buying interest in the afternoon session as Bank of Thailand unexpectedly cut benchmark interest rate by 25 bps to 1.50%. Over the GG/AAA segment, a slew of DanaInfra Nasional bonds maturing at 2021-2040 were well bidded, with the yields declined 1-6 bps to settle at a range of 4.10%-4.84%, with RM110m changed hands. Meanwhile, PLUS ‘01/27 and ‘01/28 traded 2 and 6 bps lower to 4.56% and 4.63%, respectively. Elsewhere in the AA segment, notable trade is the Maybank ‘05/19, which saw yields traded 1 bp lower to 4.59% with RM25m changed hands.    MGS Benchmark Issues MGS Closing Level (%) Chg (bp) Vol (RM m) 3-yr 3.280 0.0 0 5-yr 3.610 1.0 171 7-yr 3.760 1.0 15 10-yr 3.850 1.0 42 15-yr 4.030 0.0 2 20-yr 4.160 -1.0 1 30-yr 4.550 -1.0 0 IRS Closing Rates IRS Closing Yld (%) Chg (bp) 1-yr 3.605 -0.5 3-yr 3.625 0.0 5-yr 3.765 0.0 7-yr 3.950 1.5 10-yr 4.105 1.0 Source: Bloomberg, AmBank

               

  

Local News:

·           None.