16 January 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 19%.SA gained the major portion or by 63% of total outright trading value , following by Govt and CORP bonds,respectively.Govt bonds yields fluctuated within a range of -4 to 1 bp.Govt clean price index ended higher by 10 bp while corp index (BBB up) closed unchanged by 0 bp.The most active issue was LB28DA.

Trading & Outstanding valueMln. (THB)Chg.(%)
 Outstanding Value 12,575,800.98   0.00  
 Number of issues 2,719  
 Total Trading Value 1,117,253.48   18.61  
   Outright/Cash Trading 87,411.77   -28.64  
   Financing 1,029,402.50   25.72  
   Others 439.22   -33.06  
Price value of basis point (PVBP)BAHT
 PVBP of Government bond 365,404,573.16  


 
ThaiBMA Bond Index                                                                                                                      
TypeClean PriceGross PriceTotal ReturnAvg. YieldAvg. DurAvg. Convex
Government Bond 105.10 0.1 105.50 0.11 279.69 0.28 2.96   8.69   157.06  
    Group 1 ( 1 < TTM <=3 ) 75.21 0.00 75.61 0.01 203.03 0.01 1.76   2.31   6.98  
    Group 2 ( 3 < TTM <= 7 ) 109.60 0.05 109.99 0.06 283.31 0.15 2.10   4.36   23.22  
    Group 3 ( 7 < TTM <= 10 ) 138.89 0.3 139.44 0.31 367.21 0.81 2.38   7.38   63.10  
    Group 4 ( 10 < TTM ) 163.93 0.21 164.39 0.23 436.48 0.6 3.24   14.53   321.13  
    Group 5 (<= 10) 91.48 0.06 91.90 0.06 240.35 0.17 2.15   3.97   24.52  
SOE (G) Bond Index 102.17 0.17 102.98 0.18 167.71 0.29 2.50   3.56   23.06  
SOE (NG) Bond Index 107.90 0.05 108.89 0.06 181.69 0.1 2.96   5.67   57.46  
Corporate Bond Index (BBB up) 103.43 0.00 104.26 -0.04 233.76 0.03 2.78   1.98   8.66  
Corporate Bond Index (BBB+ up) 103.95 0.00 104.79 -0.04 235.55 0.03 2.78   1.98   8.66  
 
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.  LB28DA GB 2.87500   17-Dec-28 9.93   2.454854   103.679023   12,645.78  
2.  CB19228A SA 0.00000   28-Feb-19 0.12   1.456248   99.840592   11,980.87  
3.  CB19516A SA 0.00000   16-May-19 0.33   1.531416   99.507351   5,970.44  
4.  CB19321A SA 0.00000   21-Mar-19 0.18   1.547242   99.737252   5,551.38  
5.  CB19314A SA 0.00000   14-Mar-19 0.16   1.497649   99.780251   5,017.95  
 
 
 
 Market News
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Found 44728 headlines
No. Date/Time Headlines
1.       16-Jan-19 14:59     BE  of KSL to be registered on January 16, 2019
2.       16-Jan-19 14:39     TRIS RATING CANCELS COMPANY RATING ON “STEC”
3.       16-Jan-19 13:36     TRIS RATING ASSIGNS COMPANY RATING TO “LPN” AT “A-” WITH “STABLE” OUTLOOK
4.       16-Jan-19 13:33     DB of NATHA to be registered on January 16, 2019
5.       16-Jan-19 13:27     TRIS RATING REMOVES “DEVELOPING” CREDITALERT ON “CPN” AND AFFIRMS COMPANY & SENIOR UNSECURED DEBT
6.       16-Jan-19 13:27     TRIS RATING REMOVES “DEVELOPING” CREDITALERT ON “CPN” AND AFFIRMS COMPANY & SENIOR UNSECURED DEBT
7.       16-Jan-19 13:27     TRIS RATING REMOVES “DEVELOPING” CREDITALERT ON “CPN” AND AFFIRMS COMPANY & SENIOR UNSECURED DEBT
8.       16-Jan-19 13:27     TRIS RATING REMOVES “DEVELOPING” CREDITALERT ON “CPN” AND AFFIRMS COMPANY & SENIOR UNSECURED DEBT
9.       16-Jan-19 13:27     TRIS RATING REMOVES “DEVELOPING” CREDITALERT ON “CPN” AND AFFIRMS COMPANY & SENIOR UNSECURED DEBT
10.       16-Jan-19 13:27     TRIS RATING REMOVES “DEVELOPING” CREDITALERT ON “CPN” AND AFFIRMS COMPANY & SENIOR UNSECURED DEBT
11.       16-Jan-19 13:27     TRIS RATING REMOVES “DEVELOPING” CREDITALERT ON “CPN” AND AFFIRMS COMPANY & SENIOR UNSECURED DEBT
12.       16-Jan-19 13:27     TRIS RATING REMOVES “DEVELOPING” CREDITALERT ON “CPN” AND AFFIRMS COMPANY & SENIOR UNSECURED DEBT
13.       16-Jan-19 13:18     BE  of THANI to be registered on January 16, 2019
14.       16-Jan-19 13:18     BE  of TSFC to be registered on January 16, 2019
15.       16-Jan-19 13:18     DB of ASK to be registered on January 16, 2019
 
 
Disclamer