Market Roundup
- US Treasury yields edged lower, on the back of declining crude oil prices, pairing with a disappointed reading from Empire State Index, which showed -14.9 in August, fell from +3.9 a month ago, the lowest since 2009.
- Ringgit govvies extended losses, amid persistent bearish sentiment. USD/MYR reached the new high at 4.1315, before eventually closed lower at 4.0995. On the other hand, market is expecting the new 3.5-year SPK auction this week.
- Thai govvies posted gains on Monday. While the foreign players were better sellers amid weakening THB, local players were absorbing the selling pressure, with a net buying amount of Bt1.3 billion throughout the day.
- Indonesian bond market closed on Independence Day holiday.
- Asian dollar credits posted losses, amid cautious trading in conjunction with the Asian stock market declines early the week. Also, recent depreciation of EM currencies against US dollar, also dampened bidding interest in the secondary market. Notably, regional CDS widened up to 8bps, while Philippines CDS outperformed, tightening by 1bp to 103bps on Monday.
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