FW: Fixed Income Daily Pulse - 2 January 2018

 

 

Good Evening,
Today’s trade recap by our trading desk:-
·         The local bond market started the new year with improved trading activities as market players returned from the long holidays. Continuing from last week’s momentum, bidding interest was still concentrated on specific benchmark stocks and off-the-run stocks. Prices were mostly quoted higher with yields easing 0.5-3bps across the curve. MYR on the other hand started the year with a bang, seeing fresh lows of 4.0180 after closing the year at 4.0480 levels last week. BNM also announced the first reopening auction of 2018 which will see 20Y MGS 4/37 reissued with the size of RM2.0bio and another RM1.0bio privately placed. WI was last quoted at 4.60%-4.50% with nothing done.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.340 -0.5 - 5-yr 3.515 -3.0 - 7-yr 3.870 -1.0 - 10-yr 3.905 -0.5 - 15-yr 4.425 +2.5 - 20-yr 4.580 -2.5 - 30-yr 4.850 - - Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.645 0.0 3-yr 3.740 -0.5 5-yr 3.820 -0.5 7-yr 3.935 1.0 10-yr 4.060 0.5 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

 

****************************************************************************************************************************************************************************************************************************************************************************************************************

DISCLAIMER:

This message may contain confidential and privileged information for its intended recipient(s) only. If you are not an intended recipient, you are hereby notified that any review, dissemination, and distribution, printing or copying of this message or any part thereof is strictly prohibited. Please delete the entire message and inform the sender of the error. Any opinions, conclusions and other information in this message that are unrelated to official business of AmBank Group are those of the individual sender and shall be understood as neither explicitly given nor endorsed by AmBank Group.

****************************************************************************************************************************************************************************************************************************************************************************************************************