Daily Market Report (4 July 2019)
- We expect buying interests on equities to prevail in view of yesterday’s record close on Wall Street coupled with the decline in the US 10-year yield to a 2 year low at 1.95%.
- Consensus remain adamant that the Feds will cut rates in due course and expect the 10-year treasury rate to continue hovering at below the 2.0% level.
- Meanwhile, we expect the MYR to strengthen vis-à-vis the USD and may hit our 2019 target of RM4.10 rather soon.