Good Morning, | |||||||||||||||||||||||||||||||||||||||||||||||||||
Today’s trade recap by our trading desk:- | |||||||||||||||||||||||||||||||||||||||||||||||||||
· Indonesia’s central bank cut its benchmark rates by 25bps overnight, resuming its policy easing to spur growth; while Trump administration is said to be making strides on a tax reform plan which includes both individuals and corporate tax cuts. Risk on market sentiment continued with the USD gaining ground against other majors and UST yields rising 2-3.5bps across the curve. In the local market, buying flows amongst benchmark MGS stocks drove prices higher in the morning. However, during the afternoon, profit taking activity saw earlier gains given back with yields closing the day 0.5-2.0 bps higher at the belly. July’s CPI YoY figure was also released today, coming in at 3.2% vs 3.4% expected. Market was unmoved by the data. Malaysia’s Treasury Secretary General, Tan Sri Irwan also made a statement in the afternoon, indicating that the country’s GDP will surpass 5% this year. | |||||||||||||||||||||||||||||||||||||||||||||||||||
Malaysia Government Bonds Benchmark Issues
Source: BondStream, AmBank | Interest Rate Swap Closing Rates
Source: Bloomberg, AmBank |
Thursday, August 24, 2017
FW: Fixed Income Daily Pulse - 23 August 2017
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.