August 13, 2020
|Govt. Bond Yields||Latest Yield||Previous Day||Previous Week||YTD|
|2 Year||0.436||▼ 0.4||▲ 0.6||▼ 72.3|
|5 Year||0.770||▼ 0.2||▲ 4.6||▼ 47.6|
|10 Year||1.288||▼ 1.1||▲ 9.2||▼ 19.0|
* Government bond yield changes are expressed in basis points.
|Currencies||Latest Rate||Previous Day||Previous Week||YTD|
|THB per USD||31.051||▲ 0.1||▲ 0.2||▼ 4.5|
|THB per JPY||0.290||▲ 0.1||▲ 1.5||▼ 6.2|
* Exchange rate changes are expressed as a percentage change.
|Interest Rates||Latest Rate||Previous Day||Previous Week||YTD|
|1D BIBOR||0.501||0.0||▲ 0.1||▼ 74.9|
|3M BIBOR||0.629||▲ 0.0||▲ 0.0||▼ 74.1|
* Interest rate changes are expressed in basis point change.
|Policy Rates||Latest Rate
|1-day Repurchase Rate||0.500||0.0||▼ 75.0|
* 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 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.
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 previous issues PDF|
Between 28 February and 15 May, the local currency (LCY) government bond yield curve in Thailand shifted downward at the shorter-end and slightly upward at the long-end. Yields fell an average of 28 basis points for tenors with maturities of up to 6 years, while yields rose an average of 9 basis points for maturities of 7 years or longer. The decline in yields at the shorter-end of the curve stemmed primarily from the easing of the Bank of Thailand's (BOT) monetary policy in response to the economic headwinds brought by the coronavirus disease (COVID-19). Declining growth prospects and heightened risk, which resulted in capital outflows, caused the uptick on long-term bond yields.
Thailand's LCY bonds outstanding amounted to THB13,168.9 billion (USD402.1 billion) at the end of March after a 0.5% quarter-on-quarter contraction in the first quarter of 2020. Contraction in the government bond segment, coupled with tepid growth in the corporate bond segment, drove the quarterly decline in outstanding LCY bonds. On an annual basis, the growth of outstanding LCY bonds decelerated to 4.1% in Q1 2020 from 16.0% in the previous quarter. The Thai bond market is largely composed of government bonds, which accounted for 71.0% of the total bonds outstanding at the end of March.
In March, Thailand's Public Debt Management Office adjusted its bond issuance plan to include shorter-dated bonds amid weak demand for government bonds due to heightened uncertainties caused by the COVID-19 pandemic.
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