Monthly Fixed Income Report: January 2026

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BIX MALAYSIA

MONTHLY FIXED INCOME REPORT: JANUARY 2026

Ringgit Bond and Sukuk Market Surges to RM2.271 trillion Outstanding

The Malaysian ringgit bond and sukuk market recorded steady growth in January 2026, expanding by 0.71% month-on-month (MoM). This increase of RM16 billion elevated total outstanding issuances to a new high of RM2.271 trillion, continuing its upward trajectory from RM2.255 trillion in December 2025.

Government issuances continued to dominate the market structure, accounting for 57.81% of the total. The corporate segment followed at 24.71%, with quasi-government entities comprising the remaining 17.48%. This sustained expansion, which translates to a 0.71% year-to-date (YTD) increase, highlights the market's underlying resilience and reflects stable investor confidence in Malaysia's fixed-income landscape amid evolving conditions.

Jan26 - Outstanding Amount by Class in December 25 vs January 26

In January 2026, the Malaysian bond and sukuk market experienced a shift in activity, characterized by a solid expansion in outstanding value alongside a significant month-on-month (MoM) decline in new monthly issuances. Total new issuances fell by 33.40% MoM to RM21.32 billion, down from RM32.01 billion in December 2025. This contraction was primarily led by a steep drop in corporate fundraising, which plummeted by 64.00% MoM to RM11.02 billion compared to RM30.61 billion in the previous month.

Supporting this downward trend, issuances by Bank Negara Malaysia (BNM) also decreased substantially by 78.57% MoM to RM0.30 billion. Conversely, the Government of Malaysia (GoM) re-entered the market in January 2026 with issuances totalling RM10.00 billion, providing a partial counterbalance to the overall decline after recording no issuance in December 2025.

In January 2026, the Malaysian fixed-income market saw divergent yield movements across its segments, with the sovereign curve showing relative stability and corporate yields experiencing a broader upward adjustment.
On the sovereign front, yields displayed mixed but modest changes. For Malaysian Government Securities (MGS), the 3-year yield held steady at 3.00%, while the 10-year yield increased marginally by 1 basis point (bps) to 3.50%. Similarly, Government Investment Issue (GII) yields recorded slight increases, with the 3-year and 10-year yields rising by 2 bps and 1 bps to 3.11% and 3.53%, respectively.
In contrast, the corporate bond segment witnessed a more pronounced rise. Both the 3-year and 10-year AAA-rated corporate bond yields increased by 2 bps during the month, settling at 3.58% and 3.83%, respectively.

END OF REPORT
4th February 2026

- This announcement is available at BIX Malaysia website (www.bixmalaysia.com) –

DISCLAIMER

The information provided in this report is of a general nature and has been prepared for information purposes only. It is not intended to constitute research or as advice for any investor. The information in this report is not and should not be construed or considered as an offer, recommendation, or solicitation for investments. Investors are advised to make their own independent evaluation of the information contained in this report, consider their own individual investment objectives, financial situation and particular needs, and should seek appropriate personalised financial advice from a qualified professional to suit individual circumstances and risk profile.

The information contained in this report is prepared from data believed to be correct and reliable at the time of issuance of this report. While every effort is made to ensure the information is up-to-date and correct, Bond and Sukuk Information Platform Sdn Bhd (“the Company”) does not make any guarantee, representation or warranty, express or implied, as to the adequacy, accuracy, completeness, reliability or fairness of any such information contained in this report and accordingly, neither the Company nor any of its affiliates nor its related persons shall not be liable in any manner whatsoever for any consequences (including but not limited to any direct, indirect or consequential losses, loss of profits and damages) of any reliance thereon or usage thereof.

BIX ARTICLE

Monthly Fixed Income Report: January 2026

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