- SET Index: 1,481.8 (-0.30%), 3 Feb 2020
- S&P 500 Index: 3830.2 (+0.10%), 3 Feb 2020
- Thai 10-year government bond yield: 1.22 (-1.00 bps), 3 Feb 2020
- US 10-year treasury yield: 1.15% (+3.00 bps), 3 Feb 2020
- Dire unemployment forecast demands 'immediate action' - White House advisers
- EU rebuffs UK demand to soften N.Ireland Brexit trade terms
- Italy's president calls in Draghi, political parties hesitate
- Dollar holds gains on optimism for economic outlook
Dire unemployment forecast demands 'immediate action' - White House advisers
Top White House economists pushed back on Wednesday against overly rosy interpretations of the Congressional Budget Office's economic forecasts, and called for immediate action to avert the risk of persistent and long-lasting U.S. unemployment. The CBO this week forecast the U.S. economy will grow more strongly than previously expected - 4.6% in 2021 - after contracting 3.5% in 2020, providing fodder for Republican critics who say that Biden's plan is too expensive and could stoke inflation. The CBO also forecast a drop in the average U.S. unemployment rate to 5.7% in 2021 from 8.1% in 2020 but it said the number of people employed would not recover to pre-pandemic levels until 2024.
EU rebuffs UK demand to soften N.Ireland Brexit trade terms
The European Union appeared to rebuff a British demand for an extended grace period for Brexit checks on goods going from Britain to Northern Ireland. Britain earlier demanded a two-year extension to the grace period, raising the stakes in a row that threatens to reopen the rift that bedevilled years of Brexit talks. The meeting to discuss how to ease the passage of goods across the customs border between Britain and Northern Ireland was called after shortages and delivery disruptions sparked anger in the British-ruled region. Those rules ensure no checks on goods crossing the land border between Ireland and Northern Ireland, but mean checks are now needed on goods arriving from other parts of the United Kingdom.
Italy's president calls in Draghi, political parties hesitate
Italian President Sergio Mattarella looks set to ask former European Central Bank chief Mario Draghi to form a government of national unity. Mattarella's move came after talks aimed at salvaging Prime Minister Giuseppe Conte's shattered coalition collapsed leaving him with two options - early elections or else a technocrat government. The president said national elections during the coronavirus pandemic were unwise, and warned that a new administration had to take office immediately or the country risked missing out on more than 200 billion euros ($243 billion) from a European Union fund designed to help overcome the economic slump.
Dollar holds gains on optimism for economic outlook
The benchmark government bond yield (LB29DA, 9.0 years) on the previous trading day was 1.22, -1.00 bps. Thai benchmark government bond yield (LB29DA, 8.8 years) could be between 1.20-1.24. Meantime, the latest closed US 10-year bond yields was 1.15%, +3.00bps. USDTHB on the previous trading day closed around 30.04 Moving in a range from 29.98-30.01 this morning. USDTHB could be between 29.97-30.04 today. Meantime, The dollar traded near its strongest in more than two months against the euro and the yen on Thursday.
Sources : Bloomberg, CNBC, Investing, CEIC
