Dear Readers, Highlights of the report as follow:- |
· The new issuance of the 15.5-year GII maturing 16 June 2033 with a size of RM2.0bil recorded a low bid-to-cover (BTC) ratio of 1.775 times. This BTC ratio was lowest since the 15.5-year GII issuance on 7th February 2013 of 2.222%. · For the past week, the spread between 15-year MGS and 15-year GII has widened by 0.3bps to 25.6bps due to fall in MGS yield while the GII yield remained steady. MGS yields have dropped following the stronger ringgit bolstered by higher than expected trade data which reported a surplus of MYR10.6bil in October. · Besides that, the MGS yield also fell markedly following US FOMC outcome which cemented the long awaited rate hike. |
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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