Foreign investors snapped up Malaysian assets last month in their hunt for carry returns amid bets central banks globally are near end of their tightening cycles.
Bond flows were likely concentrated in short-dated notes amid still attractive US dollar-hedged yields and a conducive environment for carry, said Winson Phoon, head of fixed-income research Maybank Securities Pte in Singapore. “Investors are bottom fishing at this point,” said David Chao, global market strategist for Asia Pacific at Invesco Asset Management in Singapore.
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