· Local bond space continued to be bided up especially on the longer ends as we noticed buying dema

Today’s trade recap by our trading desk:-
·         Local bond space continued to be bided up especially on the longer ends as we noticed buying demand driven by foreign flows. Meanwhile, there’s slight selling on the belly of the MGS curve as investors start chasing yields by extending duration. Buying interest was focused in the GII segments with the yields dropping 1-2bps for the bonds 10y and above. The sentiment was supported by strengthening of MYR against USD by nearly 200 pips due to USD weakness across board and Brent crude oil keeping its upward trend to close at USD 48.60/barrel during Asian trading session. On Monday, Russian Energy Minister Alexander Novak said that Russia is consulting with Saudi Arabia and other oil producers to achieve oil market stability, bolstering hopes that oil producing nations could take action to stabilize prices; which resulted in the rally during the week.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 2.905 -1.0 61 5-yr 3.185 - - 7-yr 3.400 +1.0 525 10-yr 3.495 0.0 137 15-yr 3.850 -1.0 351 20-yr 4.140 -5.0 600 30-yr 4.470 -1.0 60 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.323 +1.2 3-yr 3.325 +0.5 5-yr 3.425 +1.5 7-yr 3.570 +2.5 10-yr 3.720 0.0 Source: Bloomberg, AmBank
Local News:
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