US Treasury yields continued to rise, as risk-off sentiment further eased after the Turkey coup failed. On top of that, DJIA recorded fresh high and closed at 18533, also sending the yields higher.

Market Roundup

• US Treasury yields continued to rise, as risk-off sentiment further eased after the Turkey coup failed. On top of that, DJIA recorded fresh high and closed at 18533, also sending the yields higher.
• Malaysian sovereign bonds were dealt in mixed directions, with sentiment slightly dampened by the weaker Ringgit on Monday. However, GII papers continued to garner demand and were traded firmer across the board due to the better yield pickup.
• Thai bond market closed on Special Holiday.
• Indonesian government bonds market was gradually traded firmer ahead of bond auction on Tuesday (target issuance IDR12 trillion). Short dated bonds up to 5-year tenors were popular on Monday, while we noted demand emerged across benchmark series that will be auctioned tomorrow (5-year FR53, 10-year FR56, 20-year FR72), although market players seem more content to bid in primary market instead. We think tomorrow's auction will be in good demand. Volume fell sharply to IDR3.42 trillion.