FW: Fixed Income Daily Pulse - 20 December 2017

 

 

Good Evening,
Today’s trade recap by our trading desk:-
·         US Tax Reform dominated headlines as the bill was passed in both House and Senate. While the bill will still require tweaks in the House of Representative, optimism in the US spurred risk-on sentiment in global markets with UST 10Y gapping 5bps higher to 2.45% levels. On the domestic front, Malaysia November CPI came in at 3.4%, in line with market expectations. Despite that, local bond market remained muted throughout the day with lackluster trading activities. Prices were quoted wide while yields remained largely unchanged across curve except for 10y MGS which saw a last evening buying interests.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.375 - - 5-yr 3.640 - 62 7-yr 3.910 - - 10-yr 3.950 -1.5 - 15-yr 4.435 - 1 20-yr 4.645 - 9 30-yr 4.900 - 80 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.635 0.0 3-yr 3.735 -0.7 5-yr 3.815 0.0 7-yr 3.935 -0.7 10-yr 4.070 0.0 Source: Bloomberg, AmBank

 

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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