- USDTHB : moving in the range 33.50 – 33.57 this morning, USDTHB sentiment is the same as last week, still expect an uptrend in short term, supporting level 33.45
- SET Index: 1,636.5 (-0.04%), 27 Dec 2021
- S&P 500 Index: 4,791.2 (+1.37%), 27 Dec 2021
- Thai 10-year government bond yield (interpolated) : 1.92% (-2.00 bps), 27 Dec 2021
- US 10-year treasury yield: 1.48 (-2.00bps), 27 Dec 2021
- U.S. President Biden signs $770 billion defense bill
- China to roll out fiscal policies proactively to stabilise growth next year
- Japan's Nov factory output soars on jump in car production
- Dollar Up, Yen at One-Month Low as Omicron Worries Lessen
U.S. President Biden signs $770 billion defense bill
U.S. President Joe Biden signed into law the National Defense Authorization Act, or NDAA, for fiscal year 2022, which authorizes $770 billion in defense spending, the White House said on Monday. Earlier this month, the Senate and the House of Representatives voted overwhelmingly for the defense bill with strong support from both Democrats and Republicans for the annual legislation setting policy for the Department of Defense. Authorizing about 5% more military spending than last year, the fiscal 2022 NDAA is a compromise after intense negotiations between House and Senate Democrats and Republicans after being stalled by disputes over China and Russia policy.
China to roll out fiscal policies proactively to stabilise growth next year
China will roll out fiscal policies proactively next year to stabilise economic growth, the finance ministry said on Monday, vowing that the impact of the drive would be felt earlier than usual. The government will launch another round of tax and fee cuts to support businesses and help them make infrastructure investments "appropriately" ahead of time. China has issued 1.46 trillion yuan ($229 billion) in the 2022 advance quota for local government special bonds to help spur investment and support the economy. China will also take steps to curb increases in local government hidden debt in 2022, according to the meeting readout, as well as to maintain "overall social stability".
Japan's Nov factory output soars on jump in car production
Japan's factory output surged in November as production in the auto sector benefited from a recovery in global parts supplies, lifting prospects for a strong fourth-quarter economic rebound. Despite the output jump, the Japanese manufacturing outlook remained clouded by the risk of slowing overseas activity due to Omicron widespread. Factory production gained 7.2% in November from the previous month, posting its largest jump since 2013, thanks to rising output of motor vehicles and plastic products. That meant production rose for the second straight month after increasing 1.8% in October and posted a faster rise than the 4.8% gain forecast.
Dollar Up, Yen at One-Month Low as Omicron Worries Lessen
The 10-year government bond yield (interpolated) on the previous trading day was 1.92, -2.00 bps. The benchmark government bond yield (LB31DA, 10.0 years) was 1.92, -2.00 bps. LB31DA could be between 1.89-1.94. Meantime, the latest closed US 10-year bond yields was 1.48%, -2.00bps. USDTHB on the previous trading day closed around 33.56 Moving in a range from 33.50-33.57 this morning. USDTHB could be closed between 33.50-33.60 today. Meantime, The dollar was up on Tuesday morning in Asia. Meanwhile, the yen traded near a one-month low to the U.S. currency as uncertainty about the omicron COVID-19 variant was largely consigned to the background, and investors’ risk appetite improved.
Sources : ttb analytics , Bloomberg, CNBC, Investing, CEIC
