- USDTHB: moving in the range 36.63-36.76 this morning, supporting level of USDTHB is around 36.30 resistance level is around 36.70
- SET Index: 1,560.3 (+0.49%), 25 Jul 2022
- S&P 500 Index: 3,966.8 (+0.13%), 25 Jul 2022
- Thai 10-year government bond yield (interpolated): 2.61% (-7.51 bps), 25 Jul 2022
- US 10-year treasury yield: 2.81 (+4.00 bps), 25 Jul 2022
- U.S. business borrowing for equipment falls 1% in June
- Moody's lowers European growth forecasts amid energy crisis
- Inverted yield curve in China savings rates signals sustained economic slowdown
- U.S. 10-year bond yield rebounded after hits two-month low
U.S. business borrowing for
equipment falls 1% in June
The Equipment Leasing and Finance Association (ELFA) reported
that the companies signing up for $10.3 billion in new loans, leases and lines
of credit in June, compared with $10.4 billion a year earlier. This is because
the Fed has signaled its resolve to meet these inflationary pressures by
steadily increasing short-term interest rates. Meanwhile, economic activity
which accounted for nearly $1 trillion in equipment finance sector, had the
credit approvals totaled 78.1%, up from 76.8% in May.
Moody's lowers European growth forecasts amid energy crisis Moody's, credit agency rating, showing the baseline forecast in July for the euro area is for real GDP to grow 2.2% in 2022, followed by 0.9% in 2023, down from its May forecasts of 2.5% and 2.3%, respectively. The main factors driving the lower growth projections are gas supply interruptions and uncertainty that will require adjustment on the demand side, high inflation, which is denting consumer spending, withdrawal of monetary policy support by the European Central Bank (ECB), tighter global liquidity and subdued external demand. There are substantial downside risks to Moody's forecasts should Russia completely shut off gas flows to Europe.
Inverted yield curve in China
savings rates signals sustained economic slowdown
China’s top four state lenders, led by the Industrial and
Commercial Bank of China, in June started setting the interest rate for 3-year
deposits up to 40 bps higher than those for 5-year deposits. While the yield
curve on Chinese government debt is normal. The inversion in savings rates
followed a surge in bank deposits as Chinese savers raced to find a haven for
their assets and an economic downturn weighed on personal spending. Moreover,
turmoil in property market and the slow recovery of infrastructure construction
have dented demand for long-term loans that are supposed to be matched by
deposits of similar duration.
U.S. 10-year bond yield rebounded after hits two-month low The 10-year government bond yield (interpolated) on the previous trading day was 2.61, -7.51 bps. The benchmark government bond yield (LB31DA) was 2.57, -4.00 bps. LB31DA could be between 2.50-2.57. Meantime, the latest closed US 10-year bond yields was 2.81, +4.00 bps. USDTHB on the previous trading day closed around 36.63 Moving in a range of 36.63-36.76 this morning. USDTHB could be closed between 36.30-36.70 today. The yield on the US Treasury 10-year note rebound the 2.8% mark after investors rushed to safe-haven assets amid lingering fears that an aggressive tightening worldwide to tame sky-high inflation will eventually tip economies into a recession. The Euro appreciated above $1.02 as investors await key economic data this week for clues on Fed’s next move after recessionary worries returned to the market following weak PMIs data.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
