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Malaysia

Market Watch
Close of
November 19, 2019
Change From
Govt. Bond Yields Latest Yield Previous Day Previous Week YTD
2 Year 3.042 0.1 0.2 48.4
5 Year 3.219 ▲ 1.6 ▲ 2.8 55.9
10 Year 3.427 0.3 1.2 65.3

* Government bond yield changes are expressed in basis points.

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Currencies Latest Rate Previous Day Previous Week YTD
MYR per USD 4.157 0.0 0.4 0.6
MYR per JPY 0.038 0.2 0.8 1.6

* Exchange rate changes are expressed as a percentage change.

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Interest Rates Latest Rate Previous Day Previous Week YTD
1D KLIBOR 2.940 6.0     0.0 25.0
3M KLIBOR 3.360     0.0 2.0 33.0

* Interest rate changes are expressed in basis point change.

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Policy Rates
Change From
Policy Rates Latest Rate
(5-Nov-2019)
Previous Rate
(12-Sep-2019)
YTD
Rate
Overnight Policy Rate 3.000     0.0     0.0

* Policy rate changes are expressed in basis point change.

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Sovereign Ratings
Agency Rating Outlook Date
Regional Rating Institutions
R&I A stable 2016-07-05
RAM A2 stable 2019-01-15
Non-Regional Rating Institutions
Fitch A- stable 2019-07-18
S&P A- stable 2019-07-05

More details

  • Size of LCY Bond Market
  • Size of LCY Bond Market in % of GDP
  • Monthly Bonds Outstanding in USD
  • FCY Bonds Outstanding
  • Breakdown of LCY Bond Market Issuance
  • G3 Currency Bond Issuance
  • Government Securities Maturity Profile - LCY
  • Corporate Securities Maturity Profile - LCY
  • Investor Profile - Government Bonds
  • Foreign Holdings in LCY Government Bonds
  • Trading Volume
  • Bonds Turnover Ratio
  • Interest Rate Spread - 2yrs vs 10yrs - LCY Bond
  • Yield Volatility - 10yr LCY Bonds
  • Credit Spread - LCY Corp. Bonds vs Govt. Bonds
  • iBoxx ABF Index Family
  • Bid-Ask Spreads (Survey data)
  • Government Bond Market Structural Issues
  • Corporate Bond Market Structural Issues

ASEAN+3 Bond Market Guide

ASEAN+3 Bond Market Guide 2016: Malaysia


ASEAN+3 Bond Market Guide is a comprehensive explanation of the regionís bond markets. It provides various information such as the history, legal and regulatory framework, speciic characteristics of the market, trading and transaction including settlement systems, and other relevant information. The Bond Market Guide 2016 for Malaysia is an outcome of the strong support and kind contributions of ASEAN+3 Bond Market Forum members and experts, particularly from Malaysia. The report should be recognized as a collective good to support bond market development among ASEAN+3 members.

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* Download previous issues PDF
2019 Nov Sep Jun Mar
2018 Nov Sep Jun Mar
2017 Nov Sep Jun Mar
2016 Nov Sep Jun Mar
2015 Nov Sep Jun Mar
2014 Nov Sep Jun Mar
2013 Nov Sep Jun Mar
2012 Nov Sep Apr
2011 Nov Sep Mar
2010 Nov Oct Jul Mar
2009 Nov Sep

Market Summary



Yield Movements

Between 31 August and 15 October, movements in Malaysia's local currency (LCY) government bond yields were mixed. The shorter end of the yield curve declined while yields of long-term tenors increased. The movements in the yield curve in Malaysia are reflective of the trend in the United States during the review period where the shorter end of the yield curve dropped while the longer end rose. Uncertainty over the upcoming Bank Negara Malaysia's (BNM) monetary policy committee meeting in November may have contributed to investors preferring shorter duration tenors over long-term investments, as assessed by some market participants, and as evidenced by short-term yields falling and long-term yield rising toward the end of the review period.

Size and Composition

Malaysia's LCY bond market expanded 0.3% quarter-on-quarter in the third quarter (Q3) of 2019 to reach a size of MYR1,493.1 billion (USD356.5 billion), up from MYR1,488.1 billion at the end of the second quarter of 2019. The growth corresponds to an 8.3% year-on-year jump from MYR1,378.6 billion at the end of Q3 2018. On an annual basis, the growth in the LCY bond market in Q3 2019 was supported by growth in both LCY government and corporate bonds. Total outstanding sukuk (Islamic bonds) at the end of the review period stood at MYR920.2 billion on growth of 0.3% quarter-on-quarter from MYR917.5 billion at the end of the previous quarter, spurred by increased stocks of corporate sukuk.

Policy, Institutional and Regulatory Developments

On 16 August, BNM issued several new policies on foreign exchange administration to provide more flexibility and efficiency for businesses in managing their foreign exchange risks. Resident investors are allowed to hedge their foreign currency current account obligations up to their underlying tenure. Resident treasury centers may hedge on behalf of their related entities. Nonresident treasury centers may also do so, but they must register first with BNM. Nonresident investors are allowed to hedge on an anticipatory basis through an appointed overseas office for the settlement of their trades in goods and services. Finally, the definition of domestic MYR borrowing has been revised to exclude credit facilities used by corporations for miscellaneous expenses.

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