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Net foreign flows into the local bond market extended for the third straight month in March. Rising to RM6.6 billion from February’s RM4.3 billion, there were higher flows into local govvies (Mar: RM7.9 billion; Feb: RM4.7 billion). Local corporate bonds, on the other hand, saw wider net foreign outflows (Mar: RM1.2 billion; Feb: -RM0.4 billion). …
Net foreign inflows continued for third straight month in March Read More »
February saw a second consecutive month of net foreign inflows into local govvies, which surged 840% to RM4.7 billion from January’s RM0.5 billion. Consequently, foreign holdings of MGS and GII increased by RM4.0 billion and RM1.0 billion (Jan: RM1.3 billion; RM1.4 billion). Despite February’s net foreign inflows into local govvies, foreign holdings inched lower to …
In line with major government bonds, local govvies ended stronger in January. Of note, the 10y yield of Malaysian Government Securities (MGS) fell below 4.0% for the first time since August 2022. Optimism over the Malaysian economy’s prospects had improved following China’s reopening, further helping the situation. This was also supported by the easing consumer …
Foreigners net buyers of ringgit bonds in January Read More »
Local govvies extended gains in December, spurred by an earlier-than-anticipated reopening of China’s economy. On the local front, signs of abating cost-push pressures on inflation also bode well for bonds. Malaysian Government Securities (MGS) yields shed between 2 bps and 15 bps across all maturities. Worth noting is the sale of RM4.0 billion 3y Government …
In November, foreign outflows from the local bond market extended for the third consecutive month, albeit at a slower pace (RM1.0 billion; October: RM6.3 billion). Consequently, cumulative foreign flows YTD fell deeper into negative territory to RM8.9 billion. It is important to note, though, that the outflow was mainly attributed to redemptions of short-term government …
Local govvies mostly rallied, ringgit ended higher in November Read More »
In September, heavy selling pressure amid the global bond rout pushed local government bond yields higher across all maturities. Global financial markets were rattled by stubbornly high inflation, which spurred market expectation of more aggressive monetary tightening ahead after being flagged by major central banks. Because of the selloff, yields of Malaysian Government Securities (MGS) …
Negative foreign flows with Malaysia bond selloff Read More »
In October, foreign investors net sold RM6.3 billion worth of local bonds by trimming their holdings to RM248.7 billion or equivalent to 13.3% (September: 13.7%) of total outstanding bonds. It was the second consecutive month of net foreign selling, though considerably larger compared with September’s RM439.0 million. As a result, cumulative foreign flows YTD dipped …
Accelerated foreign outflows from bond market due in part to weak ringgit Read More »
After two consecutive months of outflows, the local bond market recorded net foreign inflows as investors returned to emerging markets amid easing inflationary fears. In August, the local bond market logged net foreign inflows of RM5.6 billion (July: -RM3.5 billion). All segments registered net foreign inflows. Malaysian Government Securities (MGS) led with RM3.5 billion (July: …
Net foreign inflows in August amid easing of inflation fears Read More »
Today, Bank Negara Malaysia (BNM) announced its Monetary Policy Committee’s (MPC) decision to increase the overnight policy rate (OPR) by 25 basis points to 2.50%. The hike, the third in as many MPC meetings, further rolls back part of the monetary support implemented during the worst of the COVID-19 crisis. After the pandemic emerged in …
MARC Ratings upgrades 2022 GDP growth forecast to 6.5% despite consecutive OPR hikes Read More »
Posted Date: August 25, 2022 Local govvies mostly rallied in July, reflecting the movements in major government bond markets. Major government bond yields were lifted by stronger haven demand as concerns about a recession escalated after a recent stream of economic data, from the US to Europe, flashed signs of a slowing global economy. On …