22 March 2023
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 6%.Govt gained the major portion or by 39% of total outright trading value , following by SA and CORP bonds,respectively.Govt bonds yields fluctuated within a range of -5 to 2 bp.Govt clean price index ended higher by 9 bp and corp index (BBB up) closed higher by 4 bp.The most active issue was LB266A.

Trading & Outstanding valueMln. (THB)Chg.(%)
 Outstanding Value 15,856,221.71   -0.03  
 Number of issues 2,869  
 Total Trading Value 1,419,348.73   5.82  
   Outright/Cash Trading 44,314.46   -52.3  
   Financing 1,374,858.16   10.17  
   Others 176.11   -61.4  
Price value of basis point (PVBP)BAHT
 PVBP of Government bond 482,929,015.10  


 
ThaiBMA Bond Index                                                                                                                      
TypeClean PriceGross PriceTotal ReturnAvg. YieldAvg. DurAvg. Convex
Government Bond 104.74 0.09 105.45 0.1 314.76 0.3 2.77   8.22   139.15  
    Group 1 ( 1 < TTM <=3 ) 71.39 0.02 71.69 0.02 214.88 0.07 1.73   1.79   4.37  
    Group 2 ( 3 < TTM <= 7 ) 106.85 0.09 107.50 0.1 308.89 0.27 2.01   4.58   25.26  
    Group 3 ( 7 < TTM <= 10 ) 137.98 0.24 138.96 0.25 412.48 0.73 2.28   7.68   67.71  
    Group 4 ( 10 < TTM ) 168.78 0.18 170.16 0.19 512.12 0.59 3.06   14.64   313.25  
    Group 5 (<= 10) 89.00 0.07 89.52 0.07 262.57 0.22 2.07   4.02   25.27  
SOE (G) Bond Index 100.73 0.06 101.28 0.06 182.98 0.12 2.35   4.26   32.37  
SOE (NG) Bond Index 106.23 0.12 106.94 0.12 202.69 0.25 3.13   6.34   65.14  
Corporate Bond Index (BBB up) 106.20 0.04 106.81 0.05 208.91 0.09 3.33   3.19   18.85  
Corporate Bond Index (BBB+ up) 106.50 0.04 107.11 0.05 208.81 0.09 3.32   3.22   19.09  
 
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.  LB266A GB 2.35000   17-Jun-26 3.24   1.833766   101.615361   2,546.06  
2.  LB276A GB 1.00000   17-Jun-27 4.24   1.900083   96.361347   2,497.42  
3.  CPFTH23619B CP 0.00000   19-Jun-23 0.24   2.100000   99.490554   1,989.81  
4.  CB23417A SA 0.00000   17-Apr-23 0.07   1.130561   99.921319   1,852.54  
5.  TB23412A TB 0.00000   12-Apr-23 0.06   1.099402   99.939365   1,680.98  
 
 
 
 Market News
 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |   >
Found 54259 headlines
No. Date/Time Headlines
1.       23-Mar-23 14:46     TRIS RATING AFFIRMS LONG-TERM GUARANTEED DEBT RATING ON “PAMCO” AT “AA”, AND SHORT-TERM GUARANTEED DEBT RATING AT “T1+”, WITH “STABLE” OUTLOOK
2.       23-Mar-23 11:53     Bank of Thailand Bond Auction Results: BOT24NA (update)
3.       23-Mar-23 11:10     YUANTA informs to partially redeem YUANTA23331A on March 23, 2023.
4.       23-Mar-23 09:27     TRIS RATING UPGRADES COMPANY RATING ON “TAA” TO “BB+” FROM “BB”, SENIOR UNSECURED DEBT RATING TO “BB” FROM “BB-”, AND REVISES OUTLOOK TO “STABLE” FROM “NEGATIVE”
5.       21-Mar-23 17:28     CHO THAVEE PUBLIC COMPANY LIMITED has announced the restructuring of CHO21OA
6.       21-Mar-23 16:37     TRIS RATING AFFIRMS COMPANY RATING ON “LHS” AT “BBB” WITH “STABLE” OUTLOOK
7.       21-Mar-23 15:21     TRIS RATING AFFIRMS GUARANTEED DEBT RATING ON “PTTEPTC” AT “AAA” WITH “STABLE” OUTLOOK
8.       21-Mar-23 15:17     TRIS RATING AFFIRMS COMPANY & SENIOR UNSECURED DEBT RATINGS ON “PTTEP” AT “AAA”, WITH “STABLE” OUTLOOK
9.       21-Mar-23 14:17     TRIS RATING UPGRADES COMPANY RATING ON “LHFG” TO “A-” FROM “BBB+” AND REVISES OUTLOOK TO “STABLE” FROM “NEGATIVE”
10.       21-Mar-23 14:08     TRIS RATING UPGRADES COMPANY RATING ON “LHBANK” TO “A” FROM “A-”, BASEL III TIER 2 CAPITAL SECURITIES RATING TO “BBB+” FROM “BBB”, AND REVISES OUTLOOK TO “STABLE” FROM “NEGATIVE”
11.       21-Mar-23 10:34     TRIS RATING AFFIRMS COMPANY RATING ON “MUD” AT “BBB-” WITH “NEGATIVE” OUTLOOK
12.       21-Mar-23 09:59     TRIS RATING AFFIRMS COMPANY RATING ON “SST” AT “BBB-” WITH “NEGATIVE” OUTLOOK
13.       21-Mar-23 09:51     Central Bank Bill Auction Results: CB23622A
14.       20-Mar-23 12:07     YUANTA informs to partially redeem YUANTA23331C on March 20, 2023.
15.       20-Mar-23 11:59     YUANTA informs to partially redeem YUANTA23331A on March 20, 2023.
 
 
Disclamer