Halister News

(Bloomberg) -- Baht weakens along with regional peers as Dollar Index extends advance to highest level since April 2003 after Fed Chair Yellen signaled interest-rate hike could come soon.

• Investors should stay “neutral” on nation’s bonds, HSBC said in Nov. 17 note; due to significant reduction in net bond supply in fiscal 2017, yields should lag upward move in U.S. Treasury yields
  • Rate curve will probably steepen; economic growth may hold up due to fiscal stimulus but not enough to warrant monetary tightening; recommends receiving 5-year govt bond-IRS spread
• Weekly foreign exchange reserve data due 2:30pm local time
• Thailand to invest 700b baht ($20b) in eastern economic corridor
• Global investors sold net 10.8b baht in local bonds yesterday, sixth straight day of outflow, longest since Oct. 17, according to TBMA data; sold net $68.8m local equities yesterday: exchange data
• Baht down 0.3% at 35.56 per dollar after hitting 35.57, weakest since Oct. 14; currency is down 0.5% this week
• Yield on 2.125% govt bond due December 2026 steady at 2.575%, taking weekly advance to 26bps, most since current series was auctioned in August