Local Bonds To Tapper Down Ahead Of Fed's Rate Cut
Local Bonds To Tapper Down Ahead Of Fed's Rate Cut
MGS and GII yields displayed mixed movements this week, ranging between -3.5 bps to 0.5 bps overall. The 10-year MGS fell by 1.7 bps to 3.729% while the 10-year GII declined by 1.3bps to 3.770%.
本週MGS和GII收益率呈現不同的變動，整體區間在-3.5個點子到0.5個點子之間。10年期MGS下跌1.7個點子，至3.729%，而10年期GII下降1.3個點子，至3.770%。
The decline in the 10-year MGS yield can be partly attributed to favourable domestic conditions, including stable unemployment rates, robust retail sales, and strong IPI data. Additionally, Harris's strong showing in the presidential debate has reduced the likelihood of a Trump victory, while signs of a continued slowdown in the US labour market have enhanced the appeal of local bonds to foreign investors.
10年期馬來西亞國債收益率下降部分歸因於有利的國內條件，包括穩定的失業率，強勁的零售銷售和強勁的工業生產指數數據。此外，賀錦麗在總統辯論中的強勢表現降低了特朗普勝選的可能性，而美國勞動力市場持續放緩的跡象增加了本地債券對外國投資者的吸引力。
The house anticipates further declines in domestic bond yields next week, influenced by the upcoming US FOMC meeting, where a 25 bps rate cut is expected. Continued improvements in domestic macro could also exert downward pressure on yields due to increased foreign investment. Additionally, a stable OPR in a global environment of rate cuts could bolster demand for local bonds, contributing to further reduction in yields.
房屋預計國內債券收益率下週將進一步下降，受即將舉行的美國 和 FOMC 會議的影響，預計會有25個點子的減息。由於外國投資增加，國內宏觀經濟持續改善也可能對收益率施加下行壓力。此外，在全球減息環境下，穩定的基準利率可能增強對本地債券的需求，進一步降低收益率。
譯文內容由第三人軟體翻譯。