Market Roundup
US Treasuries. UST yields were initially higher on the back of higher-than-expected inflation data. The Aug CPI registered at +0.4% mom, above consensus +0.3% mom. However, the upticks were pared lower by buying-on-dips interest late Thursday. Players are now eyeing on retail sales (consensus +0.1% mom) and industrial production (consensus + 0.1% mom) data releases scheduled on Friday.
Malaysia. MYR govvies traded marginally weaker, tracking overnight UST movement. Focus was on 5-year MGS reopening auction, which saw decent demand with bid-cover of 1.899x and average yield of 3.50%. Post auction we saw it transacted at 3.48-3.52%, amid late buying interest at 3.48-3.49%, before eventually closed unchanged at 3.50%.
Thailand. Yield curve steepened further on Thursday. The market was relatively quiet after the release of Thai PDMO market dialogue for FY18 increase issuance size for the long-end especially at 15-, 20-, and 30-year tenors. Therefore, LB316A, LB366A, and LB466A traded lower and the yields in the back-end rose 2-4bps after supply announcement. Foreign investor still bought short-ends at Bt3.57 billion and long-ends at Bt174 million on Wed.
Indonesia. Bond prices traded down amid weaker IDR. Market activity was a bit low, with transactions dominated by 10-year benchmark bonds. At current level, market bid was still defensive. Aug trade balance data will be announced tomorrow, while the new series on 30-year tenor (FR76 maturing on 15 May 2048) will be issued in upcoming Tuesday's bond auction. Market was dominated by medium and long term bonds whilst volume decreased to IDR14.4 trillion.
*************************************************************
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.