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Close of February 2, 2023 |
Change From | |||
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Govt. Bond Yields | Latest Yield | Previous Day | Previous Week | YTD |
2 Year | 1.738 | ▼ 1.0 | ▲ 3.0 | ▲ 11.1 |
5 Year | 2.058 | ▼ 0.7 | ▲ 3.6 | ▲ 6.7 |
10 Year | 2.466 | ▼ 2.2 | 0.0 | ▼ 17.1 |
* Government bond yield changes are expressed in basis points. |
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Currencies | Latest Rate | Previous Day | Previous Week | YTD |
THB per USD | 33.022 | ▼ 0.6 | ▼ 0.6 | ▲ 4.6 |
THB per JPY | 0.257 | ▼ 0.8 | ▼ 1.8 | ▲ 2.8 |
* Exchange rate changes are expressed as a percentage change. |
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Interest Rates | Latest Rate | Previous Day | Previous Week | YTD |
1D BIBOR | 1.500 | ▼ 0.0 | 0.0 | ▲ 25.0 |
3M BIBOR | 1.448 | 0.0 | ▲ 1.2 | 0.0 |
* Interest rate changes are expressed in basis point change. |
Change From | ||||
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Policy Rates | Latest Rate (30-Nov-2022) |
Previous Rate (28-Sep-2022) |
YTD Rate |
|
1-day Repurchase Rate | 1.250 | ▲ 25.0 | 0.0 | |
* Policy rate changes are expressed in basis point change. |
Agency | Rating | Outlook | Date | |
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Regional Rating Institutions | ||||
R&I | A- | stable | 2021-03-11 | |
RAM | BBB1 | stable | 2019-06-07 | |
Non-Regional Rating Institutions | ||||
Fitch | BBB+ | stable | 2022-06-21 | |
S&P | BBB+ | stable | 2021-09-20 | |
ASEAN+3 Bond Market Guide is a comprehensive explanation of the region's bond markets. It provides various information such as the history, legal and regulatory framework, speciic characteristics of the market, trading and transaction including settlement systems, and other relevant information. Bond Market Guide 2016 for Thailand is an outcome of the strong support and kind contributions of ASEAN+3 Bond Market Forum members and experts, particularly from Thailand. The report should be recognized as a collective good to support bond market development among ASEAN+3 members. View Report
Implementation Guidelines for Thailand
August 2015
The ASEAN+3 Multi-Currency Bond Issuance Framework (AMBIF) Implementation Guidelines for Thailand are provided to review the AMBIF Elements and detail the corresponding features of Thailand market in relation to each element.
Download Report
* Download previous issues PDF | ||||
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Between 31 August and 14 October, yields for Thailand’s local currency (LCY) government bonds rose across all tenors, shifting the yield curve upward. The 2-year yield rose 30 basis points (bps), while the 10-year yield jumped 73 bps. As a result, the spread between the 10-year and 2-year yields widened from 89 bps on 31 August to 132 bps on 14 October. The rise in Thai LCY government bond yields followed a global trend of rising sovereign bond yields in response to aggressive monetary policy tightening by the United States Federal Reserve. Domestic factors— particularly monetary policy normalization by the Bank of Thailand, elevated inflation, and a stable bond supply in the near-term—also contributed to the rise in Thai bond yields.
The outstanding stock of LCY bonds in Thailand totaled THB15,494.7 billion (USD410.7 billion) at the end of September. Quarterly growth accelerated to 2.6% in the third quarter (Q3) of 2022 from 0.7% in the second quarter. The faster growth was driven by a rebound in the government bond segment, which outpaced the slowdown in the corporate bond segment. The government bond market expanded 2.3% quarter-on-quarter (q-o-q) in Q3 2022, reversing the 0.7% q-o-q contraction in the previous quarter. Meanwhile, growth in the corporate bond market eased to 3.4% q-o-q in Q3 2022 from 4.6% q-o-q in the previous quarter due to maturities and a contraction in issuance. At the end September, government bonds accounted for 71.7% of the total LCY bond market, while corporate bonds comprised the remaining 28.3%.
On 12 October, the Public Debt Management Office (PDMO) announced that it plans to sell THB130.0 billion of government savings bonds in fiscal year 2023. The PDMO assessed that there is ample liquidity in the Thai bond market for government bond issuance. In fiscal year 2023, the PDMO will focus on issuing medium-term bonds with maturities of 10–20 years in response to high market demand for such tenors. The government plans to borrow up to THB30.0 billion from international lenders such as the Asian Development Bank and the Japan International Cooperation Agency, and it will not issue USD-denominated bonds unless necessary.
Title | Source | Date |
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Debt Securities Auction Results: Auction Date: 2 February 2023 | Bank of Thailand | 2023-02-02 |
Title | Source | Date |