Monthly Bond Market and Rating Snapshot - September 2022 - Full Report

Report ID 6053890046945 Popularity 378 views 11 downloads 
Report Date Oct 2022 Product  
Research Type Fixed Income BM Update Sector Bond Market Update - Bond Market Update
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Global Bond Markets          

Global bonds mostly sold off in September as higher-than-expected inflation data fuelled expectations of more aggressive interest rate hikes by major central banks.

Malaysian Government Bond Market          

Local government bond market growth slowed in September. While the first Sustainability GII did draw decent demand at auction, heavy selling in the secondary market amid the global bond rout pushed yields higher. BNM is expected to remain on a rate tightening path.

Malaysian Corporate Bond Market          

In September, corporate bond issuances were dragged down by the unrated quasi-government segment despite increases in issuances of unrated corporate bonds and of the rated segment overall. Also not spared from the global bond rout, corporate bonds saw yields ending higher though the magnitude of the rise was smaller than that of government bonds.

Foreign Holdings of Local Bonds          

Net foreign flows into the local bond market turned negative in September. The outflow was mainly driven by higher MGS redemptions, which outpaced foreign buying of Islamic government securities (GII and MITB).