19 July 2019
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 1%.SA gained the major portion or by 75% of total outright trading value , following by Govt and CORP bonds,respectively.Govt bonds yields decreased by -5 to 0 bp.Govt clean price index ended higher by 32 bp and corp index (BBB up) closed higher by 4 bp.The most active issue was CB19806A.

Trading & Outstanding valueMln. (THB)Chg.(%)
 Outstanding Value 13,297,090.55   0.00  
 Number of issues 2,786  
 Total Trading Value 920,475.28   1.04  
   Outright/Cash Trading 85,239.96   9.38  
   Financing 835,093.13   0.3  
   Others 142.19   -73.16  
Price value of basis point (PVBP)BAHT
 PVBP of Government bond 443,927,040.11  


 
ThaiBMA Bond Index                                                                                                                      
TypeClean PriceGross PriceTotal ReturnAvg. YieldAvg. DurAvg. Convex
Government Bond 110.43 0.32 110.83 0.33 298.82 0.88 2.44   9.65   183.12  
    Group 1 ( 1 < TTM <=3 ) 74.59 0.01 74.98 0.02 205.10 0.05 1.71   2.32   6.84  
    Group 2 ( 3 < TTM <= 7 ) 110.76 0.12 111.18 0.13 290.59 0.33 1.75   4.28   22.50  
    Group 3 ( 7 < TTM <= 10 ) 143.98 0.33 144.50 0.34 386.47 0.91 1.91   7.63   67.88  
    Group 4 ( 10 < TTM ) 179.71 0.89 180.19 0.9 486.64 2.43 2.66   15.77   368.34  
    Group 5 (<= 10) 92.57 0.11 92.98 0.12 247.25 0.31 1.83   4.66   31.91  
SOE (G) Bond Index 103.75 0.15 104.54 0.15 172.73 0.26 2.02   3.83   25.09  
SOE (NG) Bond Index 111.43 0.23 112.39 0.23 190.77 0.4 2.43   5.98   62.15  
Corporate Bond Index (BBB up) 104.10 0.04 105.00 0.02 239.44 0.12 2.64   2.29   11.36  
 
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.  CB19806A SA 0.00000   06-Aug-19 0.04   1.719135   99.934261   29,937.31  
2.  CB19D06A SA 0.00000   06-Dec-19 0.38   1.748862   99.350501   4,072.38  
3.  BOT212A SA 1.75000   18-Feb-21 1.59   1.731669   100.035024   4,051.27  
4.  CB19O17B SA 0.00000   17-Oct-19 0.25   1.739271   99.573270   2,775.11  
5.  LB28DA GB 2.87500   17-Dec-28 9.42   1.931833   108.069838   2,693.28  
 
 
 
 Market News
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Found 47019 headlines
No. Date/Time Headlines
1.       19-Jul-19 17:55     TRIS RATING AFFIRMS COMPANY RATING ON “MJD” AT “BB+” WITH “STABLE” OUTLOOK
2.       19-Jul-19 17:42     TRIS RATING ASSIGNS “A+/STABLE” RATING TO SENIOR UNSECURED DEBT WORTH UP TO BT7,000 MILLION OF “LH”
3.       19-Jul-19 17:42     TRIS RATING ASSIGNS “A+/STABLE” RATING TO SENIOR UNSECURED DEBT WORTH UP TO BT7,000 MILLION OF “LH”
4.       19-Jul-19 17:42     TRIS RATING ASSIGNS “A+/STABLE” RATING TO SENIOR UNSECURED DEBT WORTH UP TO BT7,000 MILLION OF “LH”
5.       19-Jul-19 17:42     TRIS RATING ASSIGNS “A+/STABLE” RATING TO SENIOR UNSECURED DEBT WORTH UP TO BT7,000 MILLION OF “LH”
6.       19-Jul-19 17:42     TRIS RATING ASSIGNS “A+/STABLE” RATING TO SENIOR UNSECURED DEBT WORTH UP TO BT7,000 MILLION OF “LH”
7.       19-Jul-19 17:42     TRIS RATING ASSIGNS “A+/STABLE” RATING TO SENIOR UNSECURED DEBT WORTH UP TO BT7,000 MILLION OF “LH”
8.       19-Jul-19 17:42     TRIS RATING ASSIGNS “A+/STABLE” RATING TO SENIOR UNSECURED DEBT WORTH UP TO BT7,000 MILLION OF “LH”
9.       19-Jul-19 17:42     TRIS RATING ASSIGNS “A+/STABLE” RATING TO SENIOR UNSECURED DEBT WORTH UP TO BT7,000 MILLION OF “LH”
10.       19-Jul-19 17:42     TRIS RATING ASSIGNS “A+/STABLE” RATING TO SENIOR UNSECURED DEBT WORTH UP TO BT7,000 MILLION OF “LH”
11.       19-Jul-19 17:31     Fitch Affirms Mercedes-Benz (Thailand)'s MTN Programme at 'AAA(tha)'
12.       19-Jul-19 17:31     Fitch Affirms Mercedes-Benz (Thailand)'s MTN Programme at 'AAA(tha)'
13.       19-Jul-19 17:31     Fitch Affirms Mercedes-Benz (Thailand)'s MTN Programme at 'AAA(tha)'
14.       19-Jul-19 17:31     Fitch Affirms Mercedes-Benz (Thailand)'s MTN Programme at 'AAA(tha)'
15.       19-Jul-19 17:31     Fitch Affirms Mercedes-Benz (Thailand)'s MTN Programme at 'AAA(tha)'
 
 
Disclamer