- SET Index: 1,467.0 (-0.10%), 29 Jan 2020
- S&P 500 Index: 3714.2 (-1.95%), 29 Jan 2020
- Thai 10-year government bond yield: 1.90 (+1.50 bps), 29 Jan 2020
- US 10-year treasury yield: 1.11% (+4.00 bps), 29 Jan 2020
- Republicans press Biden to downsize $1.9 trillion COVID-19 relief plan
- ECB's Lane says stocks, bank bonds not in toolbox
- UK set to formally apply for trans-Pacific trade bloc membership
- Dollar supported by haven demand after retail frenzy bruises risk sentiment
Republicans press Biden to downsize $1.9 trillion COVID-19 relief plan
Ten moderate Republican U.S. senators urged President Joe Biden on Sunday to significantly downsize his sweeping $1.9 trillion COVID-19 relief package to win bipartisan support as Democrats in Congress. A top White House economic adviser signaled willingness to discuss the ideas raised by Republican senators who floated a $600 billion alternative. It was unclear whether the outreach by 10 of the 50 Republicans in the 100-seat chamber would shift plans by congressional Democrats to take up legislation in the coming days. Biden and fellow Democrats are seeking to make use of their control of the House of Representatives and Senate to move quickly on the president's top goal of addressing the pandemic.
ECB's Lane says stocks, bank bonds not in toolbox
The European Central Bank's chief economist Philip Lane played down the prospect of the ECB buying stocks or bank bonds as part of its pandemic-fighting efforts, saying in a newspaper interview published on Sunday these were not in its toolbox. "The ECB and the Eurosystem have many excellent monetary economists, so everything is considered at some level," Lane told German newspaper Sueddeutsche Zeitung. "But these measures are not part of our current toolbox. Our active toolbox is a combination of our short term rates, asset purchases, targeted lending and our forward guidance."
UK set to formally apply for trans-Pacific trade bloc membership
Britain will next week formally apply to join a trans-Pacific trading bloc of 11 countries, with negotiations set to start later this year, the government said on Saturday. Since leaving the European Union, Britain has made clear its desire to join the Comprehensive and Progressive (NYSE:PGR) Agreement for Trans-Pacific Partnership (CPTPP), which removes most tariffs between Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. The government said joining CPTPP would remove tariffs on food and drink and cars, while helping to boost the technology and services sectors.
Dollar supported by haven demand after retail frenzy bruises risk sentiment
The benchmark government bond yield (LB29DA, 9.0 years) on the previous trading day was 1.19, +1.50 bps. Thai benchmark government bond yield (LB29DA, 9.0 years) could be between 1.17-1.21. Meantime, the latest closed US 10-year bond yields was 1.11%, +4.00bps. USDTHB on the previous trading day closed around 29.93 Moving in a range from 29.87-29.91 this morning. USDTHB could be between 29.87-29.95 today. Meantime, The safe-haven dollar found support at the start of a new week with traders remaining wary amid the battle on Wall Street between hedge funds and retail investors.
Sources : Bloomberg, CNBC, Investing, CEIC
