ASIA STOCKS: Huge Outflows Across Major Markets.
Apr-09 03:27
With further tariff headlines spooking markets, data shows that the ongoing outflows from Asia equities continue.
- South Korea: Recorded outflows of -$483m as of yesterday, bringing the 5-day total to -$4,987m. 2025 to date flows are -$10,565, m. The 5-day average is -$997m, the 20-day average is -$260m and the 100-day average of -$154m.
- Taiwan: Had outflows of -$887m as of yesterday, with total outflows of -$411m over the past 5 days. YTD flows are negative at -$17,843. The 5-day average is -$82m, the 20-day average of -$397m and the 100-day average of -$243m.
- India: Had outflows of -$1,041m as of 7th, with total outflows of -$2,617m over the past 5 days. YTD flows are negative -$15,414m. The 5-day average is -$523m, the 20-day average of -$24m and the 100-day average of -$151m.
- Indonesia: Had outflows of -$228m as yesterday, with total inflows of -$32m over the prior five days. YTD flows are negative -$2,058m. The 5-day average is -$6m, the 20-day average -$36m and the 100-day average -$35m
- Thailand: Recorded outflows of -$71m yesterday, totaling -$230m over the past 5 days. YTD flows are negative at -$1,402m. The 5-day average is -$46m, the 20-day average of -$32m the 100-day average of -$19m.
- Malaysia: Recorded outflows of -$89m as of yesterday, totaling -$422m over the past 5 days. YTD flows are negative at -$2,664m. The 5-day average is -$84m, the 20-day average of -$67m the 100-day average of -$39m.
- Philippines: Saw outflows of -$7m as of yesterday, with net outflows of -$83m over the past 5 days. YTD flows are negative at -$292m. The 5-day average is -$17m, the 20-day average of -$3m the 100-day average of -$6m.
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JGBS AUCTION: Poll: 5-Year JGB Auction
Mar-10 02:57
*JAPAN 5Y GOVT BOND AUCTION MAY HAVE 99.73 LOWEST PRICE:POLL – BLOOMBERG
JGBS AUCTION: 5Y Supply Faces Cyclical % High & Steepest Curve Since Late-2023
Mar-10 02:56
The Japanese Ministry of Finance (MoF) will today sell Y2.3tn of 5-Year JGBs.
- The outright yield for today’s 5-Year offering is 15-20bps higher than last month, marking a cyclical peak.
- Moreover, the 2/5 yield curve is now at its steepest since late 2023.
- Given the mixed to poor demand metrics seen at recent auctions, today’s auction results will be closely watched to see if the trend continues.
- Results are due at 0335 GMT / 1235 JST.
JGBS AUCTION: PREVIEW: 5-Year JGB Auction
Mar-10 02:49
The Japanese Ministry of Finance (MoF) will today sell Y2.3tn of 5-Year JGBs. The MoF last sold 5-year debt on 14 February 2025, with the auction drawing cover of 3.5163x at an average yield of 0.982%, an average price of 100.08, a high yield of 0.989%, a low price of 100.05, with 31.4296% of bids allotted at the high yield.
- Last month’s 5-year bond auction demonstrated mixed demand metrics, with the auction price meeting expectations of 100.05. However, the cover ratio declined to 3.5163x from 3.8158x and the auction tail lengthened to 0.03.
- Today’s auction also comes after this month’s 10-year bond auction reflected very poor results. The low price fell well short of expectations from the Bloomberg dealer poll. Moreover, the cover ratio declined to 2.6566x, the weakest since October 2021, from 3.1809x in the previous auction and the tail lengthened dramatically to 0.21 from 0.03.
- Results are due at 0335 GMT / 1235 JST.
