5 June 2026
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 decreased by 2%.Govt gained the major portion or by 57% of total outright trading value , following by SA and CP bonds,respectively.Govt bonds yields fluctuated within a range of -6 to 4 bp.Govt clean price index ended higher by 2 bp and corp index (BBB up) closed higher by 9 bp.The most active issue was LB313A.

Trading & Outstanding valueMln. (THB)Chg.(%)
 Outstanding Value 18,306,646.86   0.15  
 Number of issues 2,743  
 Total Trading Value 1,436,506.66   -1.59  
   Outright/Cash Trading 70,931.08   44.08  
   Financing 1,364,843.00   -3.11  
   Others 732.58   -59.27  
Price value of basis point (PVBP)BAHT
 PVBP of Government bond 637,471,982.54  


 
ThaiBMA Bond Index                                                                                                                      
TypeClean PriceGross PriceTotal ReturnAvg. YieldAvg. DurAvg. Convex
Government Bond 104.81 0.02 106.00 0.02 343.89 0.08 2.76   8.26   141.23  
    Group 1 ( 1 < TTM <=3 ) 71.47 0.00 71.93 0.00 230.99 0.01 1.26   1.93   5.14  
    Group 2 ( 3 < TTM <= 7 ) 106.74 0.08 107.79 0.09 336.41 0.27 1.66   4.15   20.98  
    Group 3 ( 7 < TTM <= 10 ) 138.03 0.36 139.30 0.37 450.83 1.21 2.13   7.59   66.14  
    Group 4 ( 10 < TTM ) 168.16 -0.13 170.70 -0.11 563.37 -0.37 3.11   14.13   297.42  
    Group 5 (<= 10) 89.10 0.07 89.85 0.08 284.69 0.26 1.78   3.83   23.66  
SOE (G) Bond Index 102.77 0.16 103.30 0.17 200.10 0.32 2.00   4.47   33.20  
SOE (NG) Bond Index 108.96 0.21 109.71 0.21 227.79 0.46 2.69   5.48   48.03  
Corporate Bond Index (BBB up) 107.75 0.09 108.41 0.1 236.24 0.22 2.66   2.95   15.87  
Corporate Bond Index (BBB+ up) 108.12 0.09 108.79 0.1 236.07 0.23 2.60   3.01   16.39  
 
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.  LB313A GB 1.34000   17-Mar-31 4.78   1.668545   98.492193   3,372.06  
2.  LB386A GB 3.30000   17-Jun-38 12.04   2.544918   107.778596   3,209.65  
3.  LB284A GB 2.05000   17-Apr-28 1.87   1.208898   101.535777   3,159.89  
4.  LB294A GB 1.19000   17-Apr-29 2.87   1.379308   99.469372   2,910.51  
5.  LB365A GB 1.84000   17-May-36 9.96   2.215166   96.660900   2,705.35  
 
 
 
 Market News
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Found 65940 headlines
No. Date/Time Headlines
271.       01-Apr-26 09:56     TRIS Rating downgrades the issuer credit rating (ICR) on Origin Property PLC (ORI) and the ratings on its outstanding senior unsecured debentures to “BBB” and “BBB-” from “BBB+” and “BBB”, respectively. The rating outlook is revised to “stable” from “negative”.
272.       01-Apr-26 09:56     TRIS Rating downgrades the issuer credit rating (ICR) on Origin Property PLC (ORI) and the ratings on its outstanding senior unsecured debentures to “BBB” and “BBB-” from “BBB+” and “BBB”, respectively. The rating outlook is revised to “stable” from “negative”.
273.       01-Apr-26 09:56     TRIS Rating downgrades the issuer credit rating (ICR) on Origin Property PLC (ORI) and the ratings on its outstanding senior unsecured debentures to “BBB” and “BBB-” from “BBB+” and “BBB”, respectively. The rating outlook is revised to “stable” from “negative”.
274.       01-Apr-26 09:56     TRIS Rating downgrades the issuer credit rating (ICR) on Origin Property PLC (ORI) and the ratings on its outstanding senior unsecured debentures to “BBB” and “BBB-” from “BBB+” and “BBB”, respectively. The rating outlook is revised to “stable” from “negative”.
275.       31-Mar-26 13:53     TRIS Rating affirms the issuer credit rating on Nam Ngum 2 Power Co., Ltd. (NN2PC) at “A-” and the ratings on NN2PC’s existing senior unsecured debentures at “A-”. The outlook remains “stable”.
276.       31-Mar-26 13:44     TRIS Rating affirms the issuer credit rating on CK Power PLC (CKP) at “A-” and the ratings on its existing senior unsecured debentures at “A-”. The outlook remains “stable”.
277.       31-Mar-26 10:11     Central Bank Bill Auction Results: CB26702B
278.       31-Mar-26 09:22     TRIS Rating affirms the issuer credit rating on CH. Karnchang PLC (CK) and the ratings on its senior unsecured debentures at “A-” with a “stable” rating outlook.
279.       30-Mar-26 14:01     TRIS Rating affirms the issuer credit rating on Thai AirAsia Co., Ltd. (TAA) at “BBB-”. The rating outlook is revised to “negative” from “stable”.
280.       30-Mar-26 09:35     TRIS Rating assigns a rating of “AA+” to RATCH Group PLC’s (RATCH) proposed issues of usenior unsecured debentures with a tenor of up to 10 years. At the same time, we affirm the issuer credit rating (ICR) on RATCH at “AA+”  The outlook remains “stable”.
281.       30-Mar-26 08:55     TRIS Rating assigns a rating of “A+” to Tidlor Holdings PLC’s (TIDLOR) proposed issue of up to THB3.5 billion guaranteed debentures maturing within four years. The debentures are fully guaranteed by Ngern Tid Lor PLC (NTL, rated “A+/Stable”).
282.       27-Mar-26 14:27     TRIS Rating assigns a rating of “BBB” to Thoresen Thai Agencies PLC’s (TTA) proposed issue of senior unsecured debentures. At the same time, we affirm the issuer credit rating on TTA and the ratings on its existing senior unsecured debentures at “BBB”, with a “stable” rating outlook.
283.       27-Mar-26 09:31     TRIS Rating affirms the issuer credit rating on IRPC PLC (IRPC) and the ratings on its outstanding senior unsecured debentures at “A-”, with a “stable” outlook.
284.       26-Mar-26 15:31     State Own Enterprise Bond Auction Results: SRT344A
285.       26-Mar-26 14:09     TRIS Rating withdraws the “D” issuer credit rating on Grande Asset Hotels And Property PLC (GRAND), at the company’s request.
 
 
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