Bond market sees net foreign inflow again in February despite MGS yield spike

KUALA LUMPUR: Foreign appetite for local bonds continued to strengthen in February, the 10th successive month of net foreign purchases, despite a sharp spike in Malaysian Government Securities (MGS) yields, said RAM Rating Services Bhd (RAM Ratings).

It said the 10-year MGS yield jumped 39.5 basis points (bps) to 3.07 per cent as at the end of February, as regional yields surged in tandem with the soaring 10-year US Treasury yield.