· After a long weekend, the market started the new month/quarter quietly with the lac

Today’s trade recap by our trading desk:-
·         After a long weekend, the market started the new month/quarter quietly with the lack of flows as China is away on holiday this week for Golden Week. Oil prices has shot up since the end of last week after OPEC struck a deal during its meeting in Algiers while US treasuries saw 10Y yields rising to 1.62% after strong ISM and car sales data in the US. Focus has been in the EU space after the British PM announced that the govt will trigger Article 50 by Q1 2017; resulting in GBP dropping to historical lows.  Local bonds market saw very little participation today with low volume traded with flows only trickling in after EU markets opened. Yield curve dropped 1-2.5bps on the belly.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 2.865 0.0 1 5-yr 3.225 -2.5 359 7-yr 3.415 -2.0 390 10-yr 3.545 -1.0 262 15-yr 3.910 0.0 9 20-yr 4.115 -1.5 104 30-yr 4.445 -1.0 24 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.320 +2.0 3-yr 3.360 +0.5 5-yr 3.470 +0.5 7-yr 3.625 +0.0 10-yr 3.850 +1.0 Source: Bloomberg, AmBank
Local News:
None.