Monthly Bond Market and Rating Snapshot - November 2022 - Full Report |
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| Report ID | 6053890047025 | Popularity | 1760 views 24 downloads | |||||
| Report Date | Jan 2023 | Product | ||||||
| Company / Issuer | Fixed Income Bond Market Update | Sector | Bond Market Update - Bond Market Update | |||||
| Price (RM) |
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| Rationale |
Summary Global Bond Markets Government bonds mostly strengthened on both sides of the Atlantic as soft inflation data spurred hopes of slower pace of rate tightening by central banks. In China, on the other hand, government bonds were sold off as risk sentiment picked up after policymakers announced measures to ease COVID restrictions. Malaysian Government Bond Market Local govvies mostly rallied in November as above consensus 3Q2022 GDP data boosted market sentiment. Trading volume for MGS, for example, rose to RM35.6 billion from RM26.7 billion recorded in October. Malaysian Corporate Bond Market Taking cue from the MGS rally, corporate bonds mostly ended firmer in November. Nevertheless, credit spreads widened for the second consecutive month as the magnitude of the drop in corporate bond yields was relatively smaller than that of MGS. Foreign Holdings of Local Bonds In November, foreign selling of local bonds extended for a third consecutive month, albeit at a slower pace, with the outflow falling to RM1.0 billion from October’s RM6.3 billion. The outflow was mainly attributed to redemptions of short-term government notes. |
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