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Monthly Fixed Income Report: February 2024
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BIX MALAYSIA
MONTHLY FIXED INCOME REPORT: FEBRUARY 2024
Ringgit Bond and Sukuk market grew to RM 2.034 trillion in February 2024
The ringgit bond and sukuk market grew by 0.25% in February compared to the previous month. Total outstanding recorded in February 2024 was RM 2.034 trillion which increased by 0.25% compared to RM 2.029 trillion in January 2024. This growth mainly contributed from government outstanding of 58.15% followed by quasi government of 16.69% and corporates 25.16% in February 2024. For the first 2 months of 2024, the local bond market shows positive momentum by growing RM 0.023 trillion compared to last year, where ringgit bond and sukuk market outstanding total amount only to RM 2.011 trillion as at end December 2023.
Total issuance for ringgit bond and sukuk in February 2024 rose by 72.15% to RM 27.75 billion compared to RM 16.12 billion in January 2024. Government ringgit bond and sukuk issuance increased by 108.98% to RM 17.45 billion in February 2024 compared to RM 8.35 billion in the previous month. Bank Negara Malaysia (BNM) recorded issuance of RM 16.45 billion in February 2024, an increase of 207.48% compared to an issuance of RM 5.35 billion in January 2024.
Corporate issuance grew by 32.56% to RM 10.30 billion in February 2024 compared to RM 7.77 billion in January 2024. AA2/AA/P1/MARC-1 rated bonds recorded the highest issuance in February with total issuance of RM 3.73 billion, an increase of 16.56% compared to RM 3.20 billion in the previous month.
Malaysian Government Securities (MGS) 3-Year closed higher at 3.49% in February compared to 3.35% in January’24. The 10-year MGS closed at 3.86% in February compared to 3.79% in January, showing an increase by 0.07% or 7bps. Government Investment Issues (GII) 3-Year closed at 3.47% in February and at 3.43% in January’24 showing an increase of 0.04% or 4bps. 10-year GII stood at 3.86% in February, improved by 0.04% or 4bps compared to 3.82% in January 2024.
3-Year AAA-rated corporate bond and sukuk weakened by 1bps, closing at 3.77% in February compared to 3.78% in January’24, while the 10-year AAA-rated bond and sukuk closed at 4.03% in February compared to 4.05% in the previous month which seen drop by 2bps.
END OF REPORT
1 March 2024
The information contained in this report is prepared from data believed to be correct and reliable at the time of issuance of this report. While every effort is made to ensure the information is up-to-date and correct, Bond and Sukuk Information Platform Sdn Bhd (“the Company”) does not make any guarantee, representation or warranty, express or implied, as to the adequacy, accuracy, completeness, reliability or fairness of any such information contained in this report and accordingly, neither the Company nor any of its affiliates nor its related persons shall not be liable in any manner whatsoever for any consequences (including but not limited to any direct, indirect or consequential losses, loss of profits and damages) of any reliance thereon or usage thereof.
(201701039928) (1254101-K)
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