Buying momentum in the local bond market continues today on the back of stronger MYR touching intraday low of 4.1440. Trades f

Good Evening,
Today’s trade recap by our trading desk:-
·         Buying momentum in the local bond market continues today on the back of stronger MYR touching intraday low of 4.1440. Trades focused on the 10y GII with more than RM 550 million being traded. Profit takers emerged during the day making the rally come to a halt. However, bond prices remained supported with IRS guiding lower as well. Today, BNM announced the reopening of MGS 5/35 with issue size RM 2B. It was seen quoted at 4.27-4.22 with no trades being reported.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 2.935 -3.5 70 5-yr 3.285 -2.5 272 7-yr 3.485 -1.5 39 10-yr 3.575 -0.5 27 15-yr 4.000 -3.0 163 20-yr 4.260 -3.5 0 30-yr 4.570 0.0 16 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.310 -4.0 3-yr 3.375 -2.5 5-yr 3.520 -1.0 7-yr 3.690 -2.0 10-yr 3.915 -3.5 Source: Bloomberg, AmBank
Local News:
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