- SET Index: 1,500.5 (-0.70%), 19 Feb 2020
- S&P 500 Index: 3,906.7 (-0.19%), 19 Feb 2020
- Thai 10-year government bond yield: 1.42 (+2.00 bps), 19 Feb 2020
- US 10-year treasury yield: 1.34% (+5.00 bps), 19 Feb 2020
- U.S. Senate to know next week if COVID-19 bill can include minimum wage hike – Sanders
- UK's Sunak to raise business tax to pay for COVID-19 support: The Sunday Times
- G7 says to counter 'non-market' policies from China to ensure free trade
- Dollar Down, Riskier Currencies Benefit as Risk Sentiment Improves
U.S. Senate to know next week if COVID-19 bill can include minimum wage hike – Sanders
U.S. Senate Budget Committee Chairman Bernie Sanders said on Friday he expects to find out next week whether lawmakers can include a hike in the minimum wage to $15 an hour in the coronavirus relief bill they are racing to pass. Democrats backing the gradual increase in the wage from the current $7.25 per hour have made their case to the Senate parliamentarian on why it should be included in the $1.9 trillion package addressing the deadly COVID-19 pandemic, according to Sanders. Senate Majority Leader Chuck Schumer, a Democrat, said on Friday his deeply divided chamber will pass the bill before March 14, when the latest round of federal unemployment benefits expire.
UK's Sunak to raise business tax to pay for COVID-19 support: The Sunday Times
British finance minister Rishi Sunak is set to increase a tax on business to pay for an extension to COVID-19 support schemes in the budget next month, The Sunday Times reported. Sunak, in his speech on March 3, will announce he is increasing corporation tax from 19% to 23% by the time of the next general election, the report said. The move will raise an expected 12 billion pounds ($16.8 billion) a year, the report added. According to the report, at least 1 pence is set to be added to the bill for business from this autumn, at a cost to business of 3 billion pounds, with further rises in subsequent years. Allies of Sunak clarified he would not increase corporation tax higher than 23%.
G7 says to counter 'non-market' policies from China to ensure free trade
Group of Seven leaders on Friday said they would seek a collective approach to China to counter "non-market oriented" policies and practices and to ensure a fair multilateral global trade. "As leaders, we will consult with each other on collective approaches to address non-market oriented policies and practices. The G7 said it would deepen cooperation on the health response to COVID-19 and explore a global health treaty. "We will: champion open economies and societies; promote global economic resilience; harness the digital economy with data free flow with trust," said the group whose combined economic clout is $40 trillion - a little less than half of the global economy.
Dollar Down, Riskier Currencies Benefit as Risk Sentiment Improves
The benchmark government bond yield (LB29DA, 8.8 years) on the previous trading day was 1.42, +2.00 bps. Thai benchmark government bond yield (LB29DA) could be between 1.40-1.44. Meantime, the latest closed US 10-year bond yields was 1.34%, +5.00bps. USDTHB on the previous trading day closed around 29.99 Moving in a range from 29.95-30.01 this morning. USDTHB could be closed between 29.97-30.03 today. Meantime, The dollar was down on Monday morning in Asia, falling to a three-year low against the GBP as continued progress on curbing the COVID-19 virus boosted risk sentiment.
Sources : Bloomberg, CNBC, Investing, CEIC
