The week started with local govvies continue to soften further due to the bearishness globally and increasingly hawkish fed.

Good Evening,
Today’s trade recap by our trading desk:-
·         The week started with local govvies continue to soften further due to the bearishness globally and increasingly hawkish fed. The risk off mode saw slight selling pressure from both local and foreign accounts with particular focus on the 15Y MGS and 7Y GII. Total volume traded throughout the day was very thin nevertheless. With the 5y MGS reopening auction closing tomorrow, WI was last quoted at 3.205-185 with nothing done today.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 2.905 +6.0 76 5-yr 3.205 +1.5 63 7-yr 3.470 +1.5 70 10-yr 3.570 +3.5 71 15-yr 3.910 +4.0 380 20-yr 4.130 +4.0 0 30-yr 4.455 +2.0 0 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.300 +0.0 3-yr 3.330 +0.0 5-yr 3.445 +0.5 7-yr 3.585 +1.5 10-yr 3.740 +2.0 Source: Bloomberg, AmBank
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