KTB advises gradually accumulating long-dated US bonds after 10-year yield hits 4.95%

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Krungthai GLOBAL MARKETS strategists at Krungthai Bank, or KTB, said the 10-year US bond yield edged up into the 4.95% zone, tracking the overall risk-on mood in financial markets, while market players still expect the US Federal Reserve, or FED, to raise interest rates about three more times within the coming year. However, the recent decline in crude oil prices, driven by hopes for ceasefire talks between the United States and Iran, helped cap the rise in the 10-year US bond yield. KTB maintained its recommendation that market players can gradually buy long-dated US bonds, focusing on buying on dips at this time, because if the FED can keep raising rates, that will eventually open the way for long-term bond yields to gradually decline. In the currency market, the dollar strengthened somewhat, in line with the rise in the 10-year US bond yield and the overall risk-on mood in financial markets, which pressured the Japanese yen, or JPY, to weaken gradually beyond the 157.50 yen per dollar zone, while the dollar index, or DXY, rose to the 100.5 point zone, fluctuating around the 100.3 to 100.7 point range. As for gold prices, although COMEX December 2026 gold futures faced some pressure from the rise in both the dollar and the 10-year US bond yield, gold prices still drew support from hopes for ceasefire talks between the United States and Iran, helping gold prices overall rebound gradually to the 4,400 dollars per ounce zone once again.

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Krung Thai Bank Public Company Limited
KTB
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KTB strategists recommend gradually buying long-dated US bonds on dips as 10Y yield nears 4.95%, a house view rather than a company-specific event

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