Market Roundup
- US Treasuries continued to show weakness on the back of decent factory orders, amid cautious sentiment due to the selling pressure seen in German bunds. The March factory orders recorded a decent gain of 2.1% mom.
- Ringgit govvies dealt mixed, while gains clustered along front end and bellies of the curve on Thursday. In the near term, we continue to see the bond market to be well supported, if the Ringgit currency levels and crude oil prices remain firm.
- Thai govvies closed firmer, driven by strong bidding flows after the surprise rate cut decision by BoT in the latest MPC meeting. Elsewhere, daily volume climbed further from Bt48.8 billion to Bt57.0 billion, dominated by LB196A and LB155A.
- IDR government bond was on selling pressure on Monday on the back of IDR currency weakening, in which in the opening hours was trading at 13025 (-0.3%). We were seeing foreign banks on the selling with supportive bidding interest from local names. Trading volume was thin and generally quiet in whole day amounting IDR6.01 trillion.
- Asian credit market was pretty quiet, while the IG credits were quoted marginally wider, amid thin selling pressure ahead of the long weekend. In primary market, BPCL priced its $500 million 10-year bond at T+208bps, tighter than the initial guidance at T+225bps.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.