Fixed Income Daily Pulse, 04 Apr 2016

Today’s trade recap by our trading desk:-
·         Last Friday evening, the US NFP figure came in decently at +215k, slightly above expectation while the other related data was also well within expectations, leaving no surprise to the market. Local bond market ended mixed today on light trading as prices rose in the morning and came back down in the afternoon in tandem with the movement of USDMYR.  MYR closed the day slightly weaker on the back of a slide in oil prices as well as the solid US job data end of last week. Particular interest was seen in the shorter tenured MGS from offshore counterparties for MYR play. Yield curve ended the day largely unchanged apart from the 15Y MGS which came off by 4.5bps.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.190 -0.5 56 5-yr 3.395 - 3 7-yr 3.700 - 90 10-yr 3.785 +1.5 170 15-yr 4.115 -4.5 115 20-yr 4.360 - - 30-yr 4.675 - 30 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.615 1.5 3-yr 3.605 0.5 5-yr 3.680 1.0 7-yr 3.810 1.0 10-yr 3.980 0.0 Source: Bloomberg, AmBank
Local News:
·         None.