FW: Fixed Income Daily Pulse - 9 April 2018

 

 

Good Evening,
Today’s trade recap by our trading desk:-
Late last Friday, US March NFP numbers came in substantially below market expectations at +103K (F: +193K; P: +326K) while March unemployment rate came in slightly above forecast at 4.1% (F: 4.0%; P: 4.1%). Subsequently, UST 10Y rallied, inching to a low of 2.779% before stabilizing at 2.800% levels. On the local bond front, trading activities remained subdued with yields largely unchanged. Tepid flows were dominated by the short-end as some market players look for specific 19s and 20s stocks for MYR play. With uncertainties permeating the market, market participants will be eyeing the latest development in US-China trade tensions for further guidance tomorrow.
Malaysia Government Bonds Benchmark Issues MGS Closing Level (%) Change (bp) Volume (RM m) 3-yr 3.470 - - 5-yr 3.575 +1.0 35 7-yr 3.865 - 60 10-yr 3.960 - 20 15-yr 4.420 - 10 20-yr 4.555 - 23 30-yr 4.820 - 1 Source: BondStream, AmBank	Interest Rate Swap Closing Rates IRS Closing Yield (%) Change (bp) 1-yr 3.750 0.0 3-yr 3.805 0.2 5-yr 3.870 -0.5 7-yr 3.993 0.8 10-yr 4.100 0.5 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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