Market Roundup
- US Treasury yields edged higher across the curve, reacting to the higher German bund yields, after the ECB kept its policy stance unchanged, despite signaling for possible further easing in the future. The 10-year German bund yield rose 8.5bps to 0.238% on Thursday.
- Malaysian sovereign bonds closed mixed, while gains were capped by profit taking activities. Positive sentiment on rising oil prices was also dampened by weaker Ringgit along with regional peers. Expect market to range bound in the short term, amid a lack of fresh catalyst at this juncture.
- Thai govvies extended losses amid profit taking pressure in conjunction with weaker THB, whilst IRS rates across the curve by 5-13bps. Meantime, daily trading volume was heavy amounted Bt33.6 billion, in contrast to Bt21.8 billion garnered a day prior.
- Asian dollar credits tightened across the board, as positive sentiment boosted by higher crude oil prices. In HY space, Indo Sukuk Mar’26 tightened by 1bp to 4.18%, whilst Vietnam Nov’24 was dealt firmer at 4.57%, from 4.64% registered a day prior. iTraxx Asia ex-Japan IG Index was 1bp tighter at 138bps.
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