· The new issuance of 5-year MGS maturing 10 March 2022 with an issuance size of RM4.0bil registered a year-to-date rather weak book-to-cover ratio (B

Dear Readers, Highlights of the report as follow:-

·         The new issuance of 5-year MGS maturing 10 March 2022 with an issuance size of RM4.0bil registered a year-to-date rather weak book-to-cover ratio (BTC) of 1.538 times in 2017, mainly supported by local buying. It has an average yield of 3.882% with the spread widened by 4.4 basis points to 3.86%-3.90%. The weakening of the MYR against the USD contributed to the weak BTC reading brought about by the diminishing risk appetite for emerging market assets. ·         The next tender to watch is the re-opening of 15-year MGII 03/22 in March 2017, the first re-opening of long- term MGII for 2017.