KTB points to long-dated bond opportunities as Fed holds rates and gold dips to $4,400

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Poon Panichpibool, money and capital market strategist at Krungthai Global Markets, Krungthai Bank, said the Bank of Thailand may keep rates unchanged throughout this year and next, but Thai 10-year bond yields have fallen to 1.90% to 2.00%, a fair value zone, making them less attractive. He recommends gradually buying only when yields rise, and views Thai 20-year bonds as more interesting in terms of yield curve steepness, though investors must accept higher volatility. Meanwhile, US 10-year yields eased to 4.65% after the producer price index came in below expectations, but risk-on sentiment and Middle East uncertainty limited the decline. KTB continues to recommend gradually buying long-dated US and Thai bonds when US 10-year yields climb above 4.50%, expecting the Fed to hold rates in 2026 before cutting twice in 2027. The dollar moved sideways with no clear direction, with the DXY index hovering around 99.9 points. Gold futures for December 2026 delivery on COMEX slipped further toward $4,400 per ounce on profit-taking and Middle East uncertainty.

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Gold futures slipped toward $4,400 on profit-taking and Middle East uncertainty.

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