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Thailand’s Bonds Fall With Baht Before Central Bank Rate Meeting
By Kyoungwha Kim

HONG KONG: -- Thailand’s government bonds fell, pushing the five-year yield up the most in 10 months, and the baht weakened before the country’s central bank meets to review policy amid a selloff in emerging-market assets.

Sixteen of 23 economists surveyed by Bloomberg predict the monetary authority will keep its benchmark interest rate at 2 percent today, while seven forecast a 25-basis-point cut. Overseas investors have pulled $608 million from Thai stocks this month as crude oil’s slide to a five-year low and a plunge in the Russian ruble to a record deterred risk-taking.

The yield on government bonds due December 2019 climbed seven basis points, or 0.07 percentage point, to 2.52 percent, according to data compiled by Bloomberg. That’s the biggest increase for a benchmark five-year note since Feb. 18. The Stock Exchange of Thailand Index (SET) of shares was little changed, having slumped 8 percent this month. The baht fell 0.2 percent to 33.027 per dollar.

Full story: http://www.bloomberg.com/news/2014-12-17/thailand-s-bonds-fall-with-baht-before-central-bank-rate-meeting.html

-- Bloomberg 2014-12-17