21 February 2020
Service Manager :  Sineerat (0-2257-0357 # 301)
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Bond Market Overview
 
Background
The Thai bond market has grown rapidly in recent years after the 1997's economic crisis. To help support cash-strapped financial institutions, in June1998 the government issued government bonds for the first time in the decade. The total amount of government bonds issued under this program was THB 500 billion and this has opened a new era for the Thai bond market. The government continued to issue bonds since then with the primary objective to finance budget deficit resulted from the crisis. The substantial amount of new government bonds coupled with successively downtrend of interest rates have contributed to the robust of the bond market as evidenced by a significant increase in both market size and trading volume. The outstanding value of total bond market increased from THB 547 billion in 1996 to 498 issues worth THB 1,507 billion at the end of 2001. Trading volume in the secondary market rose from a daily average of only THB 822 million in 1996 to THB 6,472 million in 2001.
Remark: 1. Data excludes FX Bond.
2. The yield on Inflation-linked bond is a real yield to maturity.

Market Wrap up
Total trading value increased by 4%.SA gained the major portion or by 72% of total outright trading value , following by Govt and SOE bonds,respectively.Govt bonds yields decreased by -5 to -1 bp.Govt clean price index ended higher by 38 bp and corp index (BBB up) closed higher by 3 bp.The most active issue was CB20310A.

Trading & Outstanding valueMln. (THB)Chg.(%)
 Outstanding Value 13,422,191.94   0.04  
 Number of issues 2,672  
 Total Trading Value 969,994.55   3.9  
   Outright/Cash Trading 96,549.01   14.97  
   Financing 873,445.54   2.83  
   Others 0.00   -100  
Price value of basis point (PVBP)BAHT
 PVBP of Government bond 514,316,497.65  


 
ThaiBMA Bond Index                                                                                                                      
TypeClean PriceGross PriceTotal ReturnAvg. YieldAvg. DurAvg. Convex
Government Bond 120.84 0.38 121.53 0.39 332.70 1.07 1.54   10.57   219.20  
    Group 1 ( 1 < TTM <=3 ) 75.12 0.03 75.68 0.03 210.64 0.09 0.85   2.06   5.67  
    Group 2 ( 3 < TTM <= 7 ) 113.94 0.17 114.63 0.18 304.35 0.47 0.91   4.58   25.84  
    Group 3 ( 7 < TTM <= 10 ) 152.60 0.17 153.63 0.18 417.02 0.5 1.06   7.67   68.55  
    Group 4 ( 10 < TTM ) 210.25 1.12 211.25 1.13 578.77 3.1 1.70   16.72   411.69  
    Group 5 (<= 10) 95.40 0.1 96.02 0.1 259.50 0.28 0.97   4.52   30.25  
SOE (G) Bond Index 106.70 0.08 107.49 0.08 180.50 0.15 1.15   3.95   26.67  
SOE (NG) Bond Index 116.02 0.2 117.01 0.2 202.24 0.35 1.69   6.10   63.65  
Corporate Bond Index (BBB up) 105.56 0.03 106.39 0.03 247.40 0.08 2.22   2.86   16.85  
Corporate Bond Index (BBB+ up) 106.10 0.03 106.94 0.03 249.30 0.08 2.21   2.86   16.91  
 
Top 5 Most Active Bond                                                                                                                  
 BondType/
Issue Rating
Coupon Rate
(%)
Maturity
Date
TTM
(Years)
Last
Exec.Yield(%)
Weight
Avg.Price(%)
Trading Value
(THB mln.)
1.  CB20310A SA 0.00000   10-Mar-20 0.04   0.993924   99.961970   34,773.77  
2.  CB20813A SA 0.00000   13-Aug-20 0.48   0.962416   99.553108   8,269.88  
3.  LB24DB GB 1.45000   17-Dec-24 4.82   0.905979   102.552898   4,768.71  
4.  LB356A GB 1.60000   17-Jun-35 15.33   1.313573   103.958056   3,141.99  
5.  CB20521B SA 0.00000   21-May-20 0.25   0.978818   99.763389   2,905.51  
 
 
 
 Market News
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Found 48769 headlines
No. Date/Time Headlines
1.       21-Feb-20 15:31     TRIS RATING AFFIRMS COMPANY & SENIOR UNSECURED DEBT RATINGS ON “NN2PC” AT “A”
2.       21-Feb-20 15:31     TRIS RATING AFFIRMS COMPANY & SENIOR UNSECURED DEBT RATINGS ON “NN2PC” AT “A”
3.       21-Feb-20 15:31     TRIS RATING AFFIRMS COMPANY & SENIOR UNSECURED DEBT RATINGS ON “NN2PC” AT “A”
4.       21-Feb-20 15:31     TRIS RATING AFFIRMS COMPANY & SENIOR UNSECURED DEBT RATINGS ON “NN2PC” AT “A”
5.       21-Feb-20 15:31     TRIS RATING AFFIRMS COMPANY & SENIOR UNSECURED DEBT RATINGS ON “NN2PC” AT “A”
6.       21-Feb-20 15:31     TRIS RATING AFFIRMS COMPANY & SENIOR UNSECURED DEBT RATINGS ON “NN2PC” AT “A”
7.       21-Feb-20 15:31     TRIS RATING AFFIRMS COMPANY & SENIOR UNSECURED DEBT RATINGS ON “NN2PC” AT “A”
8.       21-Feb-20 15:27     TRIS RATING AFFIRMS COMPANY & SENIOR UNSECURED DEBT RATINGS ON “CPN” AT “AA”, WITH “STABLE” OUTLOOK
9.       21-Feb-20 15:27     TRIS RATING AFFIRMS COMPANY & SENIOR UNSECURED DEBT RATINGS ON “CPN” AT “AA”, WITH “STABLE” OUTLOOK
10.       21-Feb-20 15:27     TRIS RATING AFFIRMS COMPANY & SENIOR UNSECURED DEBT RATINGS ON “CPN” AT “AA”, WITH “STABLE” OUTLOOK
11.       21-Feb-20 15:27     TRIS RATING AFFIRMS COMPANY & SENIOR UNSECURED DEBT RATINGS ON “CPN” AT “AA”, WITH “STABLE” OUTLOOK
12.       21-Feb-20 15:27     TRIS RATING AFFIRMS COMPANY & SENIOR UNSECURED DEBT RATINGS ON “CPN” AT “AA”, WITH “STABLE” OUTLOOK
13.       21-Feb-20 15:27     TRIS RATING AFFIRMS COMPANY & SENIOR UNSECURED DEBT RATINGS ON “CPN” AT “AA”, WITH “STABLE” OUTLOOK
14.       21-Feb-20 15:27     TRIS RATING AFFIRMS COMPANY & SENIOR UNSECURED DEBT RATINGS ON “CPN” AT “AA”, WITH “STABLE” OUTLOOK
15.       21-Feb-20 15:27     TRIS RATING AFFIRMS COMPANY & SENIOR UNSECURED DEBT RATINGS ON “CPN” AT “AA”, WITH “STABLE” OUTLOOK
 
 
Disclamer