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Market Reports
 
FX Market Outlook
          On Friday, the USD/THB opened at 34.50/52, weaker than Thursday's closing level of 34.42/44 investors continue their concern about Thailand's political crisis. The dollar against the euro was traded at $1.4270, its lowest since November 2007. Euro zone finance ministers Jean-Claude Juncker said the zone's single currency was still effectively overvalued despite its recent fall. Moreover, ECB president Jean-Claude Trichet said the Euro zone economic uncertainty was "particularly high", with ECB deciding to hold its benchmark lending rate at 4.25%. Even the U.S. dollar, strong against most other currencies, dropped 1.1 % against the yen to trade at 106.01, as investors bailed out of more leveraged carry trades, positions funded by borrowing the yen at low rates to buy higher yielding currencies and commodities. Further to the Bank of England's decision to leave interest rates unchanged at 5.0 %, the sterling traded at $1.7589 from yesterday's closing level of 1.7805. Although investors expect that Bank of England will cut rates in later this year. At 8.50 a.m., the baht was trading at 34.56/58.
THB Bonds Market Outlook
          On September 4, total trading values increased by 30% to THB 196 bln. Outright transactions accounted for 16% of total trading, amounting to THB 31 bln, 1% lower than the previous day. At the auction, EGAT139B, EGAT169B, EGAT189A and MEA239A gained 4.58%, 4.74%, 5.10% and 5.25% while the winner were KBANK&GSB, SCBT, BBL and SCB. The market overall was very active especially LB133A. At the end of the day, 1 - 5 yr government bond yields were up by 1 to 3 bps, 6 - 14 year government bond yields were up by 5 to 6 bps, the 11 year government bond was up by 1 bps, longer than 15 yr government bonds yileds were up by 1 to 2 bps.
FX Rate New York Close Tokyo Open
JPY/USD 106.57/62 106.53/58
EUR/USD 1.4238/42 1.4258/63
GBP/USD 1.7582/87 1.7594/04
CHF/USD 1.1140/46 1.1112/17
SGD/USD / 1.4384/95
HKD/USD / 7.8069/77
AUD/USD 0.8156/61 0.8152/56
LIBOR* USD$ EUR JPY CHF
1 month (%) 2.4869 4.5125 0.7000 2.2500
2 months (%) 2.6844 4.7569 0.8013 2.5250
3 months (%) 2.8150 4.9563 0.8925 2.7375
6 months (%) 3.1131 5.1638 0.9713 2.8800
12 months (%) 3.1813 5.3275 1.1550 3.1650
Monetary Policy Rate
O/N 3.7500 %
World Gorvernment Security
  Yield (%) Spread
US 10 years 3.67
Thai Yankee 2007 N/A N/A
JGB 10 years 1.46 -
Thai Gov't 10 years 4.60 -
Reference Rate
THB / USD 34.416  
Change -0.019 Baht
Deposit Rate
Fixed : 3 months 2.375 %
  6 months 2.50 %
  12 months 2.75 %
  24 months 3.50 %
Saving A/C 0.75 %
Lending Rate
MOR 7.50 %
MLR 7.25 %
MRR 7.75 %
U.S. Interest Rate
Prime Rate 5.00 %
Fed Fund Rate* 2.00 %
* Closing Rate in NY Market
Money Market Rate
at 9.00 am
Interbank O/N 3.7700 %
U.S. Treasury
  Yield  
3 months 1.69 %
6 months 1.89 %
12 months N/A %
2 years 2.16 %
5 years 2.83 %
10 years 3.60 %
30 years 4.25 %
Treasury Bill ****
  YTM  
1 month 3.73 %
3 months 3.75 %
6 months 3.78 %
**** TBDC Bidding Yield
Commodities, at 8:00 am
Oil : Brent OCT
105.96
$/Barrel
Gold 793.65 $/Ounce
THB/USD Fwd Rate
  Export Import  
1 months 2.00 3.50 Satang
2 months 4.00 6.50 Satang
3 months 5.00 8.50 Satang
6 months 8.00 13.75 Satang
World index Close Change
Dow Jones 11188.23 -344.65
FTSE 5362.06 -137.62
Nikkei 12557.66 -131.93
Hang seng 20389.48 -195.64
Singrapore 2626.05 -80.48
Taipei 654.85 +4.92
BBL 111.00 +0.00
Onshore THB Implied Swap
  Bid Offer
1 month 3.58 3.79
2 months 3.65 3.72
3 months 3.65 3.71
6 months 3.73 3.79
1 year 3.80 3.90
2 years 4.05 4.15
3 years 4.25 4.35
4 years 4.40 4.50
5 years 4.65 4.75
7 years 4.79 4.89
10 years 4.89 4.99
Gov't THB Bonds ***
  Yield  
1 year 3.81 %
2 years 4.00 %
3 years 4.12 %
5 years 4.38 %
7 years 4.51 %
10 years 4.60 %
12 years 4.80 %
14 years 4.95 %
*** TBDC Yield Curve



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