FW: Fixed Income Daily Pulse - 20 September 2017

 

 

Good Evening,
Today’s trade recap by our trading desk:-
·         Selling pressure intensified today with yields rising throughout the tenor for both MGS and GII curves as market participants looks to further trim down their positions ahead of tonight’s US FOMC meeting. Malaysia CPI YoY for the month of August was later released at 12pm, coming in at 3.7% well above Bloomberg forecast of 3.4% which later put more pressure on the short to the belly part of the curve. Yield curve ended the day 1-5bps with the 5y moving the most while Ringgit closed the day stronger at 4.1875.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.380 +3.0 2 5-yr 3.580 +5.0 - 7-yr 3.815 +2.0 17 10-yr 3.895 +2.0 1 15-yr 4.315 +1.0 0 20-yr 4.530 +1.5 - 30-yr 4.795 +2.0 70 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.490 0.0 3-yr 3.605 0.0 5-yr 3.725 1.5 7-yr 3.815 0.0 10-yr 3.970 2.0 Source: Bloomberg, AmBank