Dear Readers, Highlights of the report as follow:- |
· The re-opening of the 15-year MGS maturing 15 April 2033 with a size of RM2.0bil recorded a strong bid-to-cover (BTC) ratio of 3.811 times. This BTC ratio was much higher compared to the previous re-opening on 28th April 2017 of 2.057%. · Foreign demand for Malaysian bonds has been aided by the stronger ringgit, having strengthened to its highest in more than a year so far, following Malaysia’s robust 3QGDP growth which had also increased chances for a BNM rate hike in 2018. · The next tender to watch is the re-opening of the 5-year MGII in November 2017. It will be the last MGII re-opening for 2017. The last issuance of such papers was the 5-year MGII ‘08/21 in July 2016 which reported a 2.454 times BTC ratio. |
Best regards,
Fixed Income Research & Strategy
AmBank Research, AmBank (M) Berhad
+603 2036 2292 (DL) +03 2031 7218 (Fax)
Level 15, Bangunan AmBank Group, 55 Jalan Raja Chulan, 50200 Kuala Lumpur
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