Bond Pricing Agency Malaysia Sdn Bhd

Economic Update 📈 📉 On 23 October 2024, the U.S. National Association of Realtors reported that existing home sales fell to a 14-year low 📉 in September, down 1.0% from August to a seasonally adjusted annual rate of 3.84 million units. High mortgage rates 🏦 and persistent property prices 🏠 are keeping potential buyers at bay. While mortgage rates initially fell 📉 after the Federal Reserve began cutting rates last month, they have risen 📈 over the month due to strong economic data, leading the market to believe that another 50-bps cut next month is unlikely. Mortgage rates spiked to 6.52% for the week ending 18 October 2024, as reported by the U.S. Mortgage Bankers Association 📊. Uncertainty about the trajectory of mortgage rates continues, making it a challenging environment for homebuyers and investors alike. #connectwithbpam #housingmarket #realestatetrends #mortgagerates #enomicoutlook #realestatenews

Summary of Bonds and Sukuk issued and maturing this week (21/10/2024 – 25/10/2024) 💼🧾 #ConnectwithBPAM #Malaysianbondmarket #BondStream #IBPAM #Finance #Malaysia #Bonds #Sukuk

Economic Update 📈📉 📉 On an annual basis, Malaysia’s inflation in September 2024 softened to 1.8% from 1.9% previously, mostly contributed by these categories: 🍽️ Restaurant & Accommodation Services (3.2%) 💄 Personal Care, Social Protection & Miscellaneous Goods & Services (3.1%) 🏡 Housing, Water, Electricity, Gas and Other Fuels (3.1%) 🎭 Recreation, Sport & Culture (2.1%). Meanwhile, the Food & Beverages group, which carries a weightage of 29.8% of the total Consumer Price Index (CPI) computation, remained unchanged at 1.6%. The print was slightly lower than the market consensus of +1.9%. #connectwithbpam #CPI #malaysianeconomy #inflationupdate #consumerpriceindex #malaysia

Economic Update 📈📉 On 18 October 2024, the National Bureau of Statistics of China 🇨🇳 reported that the country's GDP grew by 4.6% year-on-year in the third quarter, in line with market expectations. This growth was slightly below the 4.7% recorded in the second quarter, amid concerns about the strength of China’s economic recovery. The Chinese government has introduced a series of fiscal measures to revitalize the economy. In October, a comprehensive fiscal package was announced, including bond issuances for infrastructure 🏗️, support for the struggling real estate sector 🏘️, and subsidies for low-income households 💵. Although these measures aim to boost domestic consumption and address the real estate crisis, skepticism remains due to unclear details and concerns over rising public debt 📈. Investors are seeking clearer guidance and more detailed information to better assess the recovery. Despite the uncertainty, officials remain confident in achieving the full-year growth target of around 5% 🎯, supported by potential policy measures such as a reduction in the reserve requirement ratio for bank deposits 🏦. Sheng Laiyun, deputy director of the National Bureau of Statistics of China, emphasized the government’s commitment to stabilizing and boosting the economy in the fourth quarter. #ConnectwithBPAM #ChinaEconomy #GDPGrowth #EconomicRecovery #FiscalMeasures #RealEstateCrisis #Infrastructure #PublicDebt #MarketConcerns #GlobalEconomy #PolicyMeasures #Investors #ChinaGrowthTarget

Economic Update 📈📉 On 21 October 2024, China cut its benchmark lending rates—the one-year loan prime rate (LPR) to 3.10% from 3.35% and the five-year LPR to 3.60% from 3.85% 📉. This move comes after the central bank—People’s Bank of China (PBOC) 🏦, reduced interest rates in late September as part of a broader effort to stimulate economic growth 📈 and stabilize a struggling housing market 🏠. The LPR, determined by a consortium of major Chinese banks, plays a crucial role in setting the tone for borrowing across the country. Most new and existing loans are tied to the one-year LPR, while the five-year rate is pivotal in determining mortgage rates and other long-term loans 💰. #ConnectwithBPAM #ChinaEconomy #LendingRates #EconomicGrowth #HousingMarket #PBOC #Finance #InterestRates #GlobalEconomy #LPR #MortgageRates

BPAM IN THE NEWS! 🗞️ 📰 EKO Platform To Revolutionise Sustainability Reporting - The Sun #connectwithbpam #bpameko #bondstream #ibpam #ccpt #malaysia #finance #economy

Summary of Bonds and Sukuk issued and maturing this week (14/10/2024 – 18/10/2024) 💼🧾 #ConnectwithBPAM #Malaysianbondmarket #BondStream #IBPAM #Finance #Malaysia #Bonds #Sukuk

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Economic Update 📈📉 On 13 October 2024, the National Bureau of Statistics of China reported that the China consumer price index (CPI) dropped 📉 to 0.4% year-over-year (y-o-y) in September, lower than both the previous month’s reading and the market forecast of 0.6%. Meanwhile, the producer price index (PPI) showed an even steeper decline, falling to -2.8% y-o-y in September. This marked a sharper fall compared to August's reading of -1.8%, and also undershot the market's prediction of -2.5%. 📊 Overall, China's inflation data for September revealed a continued slowdown in consumer inflation and a deeper decline in producer prices. Deflationary pressures have persisted and worsened due to weak domestic demand. Demand has notably weakened since late 2021, following a property market correction and repeated lockdowns in 2022, which eroded consumer confidence and lowered household consumption. In recent weeks, the Chinese government has stepped up stimulus efforts, including more aggressive monetary support, to revive the economy and combat deflation. As the world’s second-largest economy, China faces increasing pressure and attention as observers await further measures to navigate the ongoing economic challenges. At a press conference on 12 October 2024, Finance Minister Lan Foan said that China will implement targeted and progressive fiscal policy measures to promote economic development. #connectwithbpam #bondstream #ibpam #china #economy #CPI

Economic Update 📈📉 On 11 October 2024, the U.S. Bureau of Labor Statistics (BLS) reported that the U.S. producer price index (PPI) eased to 0% month-over-month (m-o-m) in September, down from the previous month’s reading of 0.2% and below the forecast of 0.1%. Meanwhile, the core PPI, which excludes food, energy, and trade services, slightly decreased to 0.2% m-o-m in September, down from the previous month’s reading of 0.3%, but in line with market expectations of 0.2%. Overall, the stagnant reading of the Producer Price Index (PPI) contrasts with Thursday's Consumer Price Index (CPI) report, which showed a slightly larger-than-expected rise in consumer prices. Initially, worries arose that the higher-than-expected CPI inflation figures might prompt the Federal Reserve to slow down future rate cuts. However, Friday's PPI data has alleviated those concerns, strengthening expectations that the Fed may proceed with another rate cut next month. As a result, the 2-year and 10-year U.S. Treasury yields declined by 3 bps and 1 bp to 3.95% and 4.08%, respectively, on Friday. #connectwithbpam #USTreasury #ppi #cpi #finance #economicnews