FW: Fixed Income Daily Pulse - 19 April 2018

 

 

Good Evening,
Today’s trade recap by our trading desk:-
Bearish sentiment continued today in the local bond space on the back of global yields spiking higher overnight. UST 10y rose towards 2.88% levels as geopolitical tensions eases in the Korean peninsula. A new 5y MGS benchmark was issued today. The auction closed with rather weak BTC of 1.563x, with coupon rate at 3.757%. Its yield was very much higher than the outgoing benchmark which saw it last traded at 3.63% levels. Bond prices were generally softer today as yields rose about 2bps across the curve with very thin liquidity.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.560 +1.5 64 5-yr 3.800 - 1,407 7-yr 3.940 +1.5 61 10-yr 4.050 +2.0 57 15-yr 4.540 +2.5 - 20-yr 4.640 +0.5 2 30-yr 4.880 +1.0 0 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.755 0.5 3-yr 3.815 0.5 5-yr 3.885 0.7 7-yr 4.000 2.0 10-yr 4.140 1.0 Source: Bloomberg, AmBank

 

Best regards,

Fixed Income Research & Strategy

AmBank Research, AmBank (M) Berhad

+603 2036 2255 (DL) +03 2031 7218 (Fax)

Level 15, Bangunan AmBank Group, 55 Jalan Raja Chulan, 50200 Kuala Lumpur

 

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