Market Roundup
- US Treasury yields rose, reacting to the decent NFP data release, but the yields were eventually weighed lower amid declining crude oil prices in the later session. Brent crude oil fell from $39.60/bbl to $38.67/bbl on Friday.
- Ringgit government bond market saw persistent net buying interest, in conjunction with recent Ringgit strength ahead of weekend. Meantime, total trading volume remained heavy at RM6.5 billion, slightly below RM6.7 billion garnered a day prior.
- Thai govvies closed firm on Friday. We think that sentiment will continue to be well supported following the release of soft inflation data, as the consumer prices dipped by 0.46% in Mar, following contraction of 0.50% and 0.53% in Feb and Jan respectively.
- Indonesia government bond market continued to strengthen ahead of US jobs data, prices went up on buying action by offshore names. However, market saw some profit taking action seen on 10- and 15-year benchmark series, but resumed well supported and was proven to be resilient as bidders appeared again in the afternoon until market closed. March Core CPI data was lower than predicted (3.50% vs 3.57%, previous 3.59%), adding some positive news and reflected in market action on Friday.
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