Market continues to trade sideways today on thin volume as traders were on the side-lines in the absence of market moving news

Today’s trade recap by our trading desk:-
·         Market continues to trade sideways today on thin volume as traders were on the side-lines in the absence of market moving news. While flows were lacking, eyes are also focused on upcoming central bank meetings this two weeks. Most of the trading in the market today was focused on the short ends as MYR weakened to 4.00 level on the back of USD strength. Foreign traders were unwinding some of their carry position. Reopening auction for 5Y GII was also announced today. WI was last quoted 3.37-32 with nothing done so far.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 2.810 -6.0 530 5-yr 3.190 +3.5 160 7-yr 3.385 +1.0 15 10-yr 3.575 +0.5 14 15-yr 3.890 -0.5 182 20-yr 4.140 +1.5 0 30-yr 4.515 - - Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.365 0.5 3-yr 3.385 -0.5 5-yr 3.460 -1.0 7-yr 3.580 -1.5 10-yr 3.740 -1.0 Source: Bloomberg, AmBank
Local News:
·         None.