September 17, 2019
|Govt. Bond Yields||Latest Yield||Previous Day||Previous Week||YTD|
|2 Year||1.360||▼ 0.3||▼ 3.3||▼ 39.0|
|5 Year||1.374||▲ 0.1||▼ 6.5||▼ 76.4|
|10 Year||1.546||▼ 1.8||▼ 9.7||▼ 93.7|
* Government bond yield changes are expressed in basis points.
|Currencies||Latest Rate||Previous Day||Previous Week||YTD|
|THB per USD||30.534||▼ 0.0||▲ 0.3||▲ 5.5|
|THB per JPY||0.282||▼ 0.0||▲ 0.8||▲ 4.2|
* Exchange rate changes are expressed as a percentage change.
|Interest Rates||Latest Rate||Previous Day||Previous Week||YTD|
|1D BIBOR||1.500||0.0||0.0||▼ 25.0|
|3M BIBOR||1.621||▼ 0.0||▼ 0.1||▼ 24.3|
* Interest rate changes are expressed in basis point change.
|Policy Rates||Latest Rate
|1-day Repurchase Rate||1.750||0.0||0.0|
* Policy rate changes are expressed in basis point change.
|Regional Rating Institutions|
|Non-Regional Rating Institutions|
ASEAN+3 Bond Market Guide is a comprehensive explanation of the regionís 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.
|* Download previous issues PDF|
Between 1 June and 15 August, Thailand's local currency (LCY) government bond yields fell for all tenors, shifting the entire yield curve downward. The spread between 2- and 10-year tenors narrowed significantly from 52 bps on 1 June to 4 bps on 15 August. The downward shift of the Thai LCY government bond yield curve followed the global trend of falling government bond yields, which has been driven by a surge in investor demand for safe-haven assets, particularly sovereign bonds, amid concerns over slowing global growth and escalating trade tensions between the People's Republic of China and the United States. On 7 August, the Bank of Thailand (BOT) decided to reduce its policy rate by 25 bps to 1.5% to boost economic growth and push inflation up toward the target range.
Thailand's LCY bond market expanded in size to THB13,036.9 billion (USD424.9 billion) at the end of the second quarter (Q2) of 2019 from THB12,649.0 billion in the previous quarter. The growth of 3.1% quarter-on-quarter (q-o-q) in Q2 2019 surpassed the 1.6% q-o-q growth in the previous quarter, driven by faster expansion of both government and corporate bonds. The bond market in Thailand remains largely dominated by government bonds, which accounted for 71.5% of the LCY bonds outstanding in Q2 2019.
In July, the BOT issued new measures to stem the impact of short-term capital inflows amid the strengthening baht. The BOT lowered the limit on the outstanding balance of nonresident baht accounts and nonresident accounts for securities to THB200.0 million from THB300.0, and tightened reporting requirements for nonresident holdings of debt securities issued in Thailand. In addition, the BOT trimmed its supply of short-term bonds for the month of July by THB60.0 billion.
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