(May 25): A stuttering rally in Malaysian government bonds may run into another roadblock as a heatwave sweeping across Southeast Asia threatens to drive up inflation. Benchmark yields are likely to face further upward pressure if faster price gains prompt Bank Negara Malaysia to tighten policy again. Turbulence in Treasuries fuelled by the prospect of a US default may also stoke volatility in the near term. Inflation risks 'may be coaxing a few to punt that BNM could hike again', said Philip McNicholas, Asia sovereign strategist at Robeco Group in Singapore.

http://klse.i3investor.com/web/blog/detail/ceomorningbrief/2023-05-26-story-h-269662118-Heatwave_Spells_Trouble_for_Ringgit_Bonds_as_Food_Prices_to_Soar

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