BIX ARTICLE
Monthly Fixed Income Report: May 2024
Jun 04, 2024
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4 min read
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BIX MALAYSIA
MONTHLY FIXED INCOME REPORT: MAY 2024
Ringgit Bond and Sukuk market stood at RM2.063 trillion in May 2024
The ringgit bond and sukuk market grew by 0.38% in May compared to the previous month. Total outstanding recorded in May 2024 was RM2.063 trillion which increased by 0.38% compared to RM2.055 trillion in April 2024. This growth mainly contributed from government outstanding at 58.35%, followed by quasi government and corporates at 16.83% and 24.82%, respectively. For the first five months of 2024, the local bond market shows positive momentum by growing RM0.052 trillion compared to last year, where ringgit bond and sukuk market outstanding totalling amount of RM2.011 trillion as at end December 2023.
Total issuance for ringgit bond and sukuk in May 2024 declined by 6.00% to RM28.59 billion compared to RM30.42 billion in April 2024. Government ringgit bond and sukuk issuance increased by 1.89% to RM17.27 billion in May 2024 compared to RM16.95 billion in the previous month. Bank Negara Malaysia (BNM) recorded issuance of RM6.27 billion in May 2024, lowered by 2.79% compared to an issuance of RM6.45 billion in the previous month.
Corporate issuance declined by 15.96% to RM11.32 billion in May 2024 compared to RM13.47 billion in April 2024. AA2/AA/P1/MARC-1 rated bonds recorded the highest issuance in May with total issuance of RM5.07 billion, an increase of 76.66% compared to RM2.87 billion in the previous month.
Malaysian Government Securities (MGS) 3-Year closed lower at 3.58% in May compared to 3.61% in April 2024. The 10-year MGS closed at 3.89% in May compared to 3.98% in April, showing reduction of 0.09% or 9bps. Government Investment Issues (GII) 3-Year closed at 3.53% in May and at 3.60% in April 2024 where it’s yield declined by 0.07% or 7bps. 10-year GII also declined to 3.90% in May, down by 0.09% or 9bps compared to 3.99% in April 2024.
3-Year AAA-rated corporate bond and sukuk closed at 3.81% in May compared to 3.83% April 2024 showing slightly decreased by 0.02% or 2bps, while the 10-year AAA-rated bond and sukuk closed at 4.08% in May compared to 4.17% in the previous month which is down by 9bps.
END OF REPORT
4th June 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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