- USDTHB: moving in the range 32.85 – 32.87 this morning, supportive level at 32.75 resistance level at 33.00
- SET Index: 1,609.76 (-0.73%), 19 Aug 2026
- S&P 500 Index: 7,707.98 (+0.21%), 19 Aug 2026
- Thai 10-year government bond yield (interpolated): 2.134 (-0.22 bps), 19 Aug 2026
- US 10-year treasury yield: 4.65 (-6.00 bps), 19 Aug 2026
- Treasury expands long-end buybacks to ease yield pressure
- Fed keeps higher rates on the table if inflation persists
- Oil edges higher as markets await new strait of Hormuz passage plan
- UK inflation climbs to four-month high as energy bills rise
- Dollar weakens as Treasury buybacks push long-end yields lower
Treasury expands long-end buybacks to ease yield pressure
US Treasury Secretary Scott Bessent surprised markets by announcing a significant expansion of long-end debt buybacks after a sharp selloff pushed Treasury yields to multi-year highs. The Treasury will at least double the maximum size of liquidity-support buybacks from USD 2bn to USD 4bn per operation, targeting 10–20Y and 20–30Y nominal securities from September 9 through November 4. The move is aimed at improving liquidity and stabilizing the long end of the curve rather than changing the government’s overall borrowing needs.
Fed keeps higher rates on the table if inflation persists
The FOMC Minutes were largely in line with expectations, showing that most participants supported keeping rates unchanged in July, while several favored a hike, including the three hawkish dissenters. Most officials agreed that higher rates could be necessary if inflation failed to ease, while the Fed staff’s inflation outlook was broadly unchanged from June and its growth outlook was slightly weaker. Chair Warsh also proposed reducing scheduled meetings from eight to six per year to allow more data to accumulate, though no decision was made and the 2026 schedule remains unchanged.
Oil edges higher as markets await new strait of Hormuz passage plan
Crude prices edged higher on Wednesday amid limited geopolitical developments. The key update came from an Iranian official, who said a “new passage” through the Strait of Hormuz would soon be announced jointly with Oman. EIA data showed unexpected builds in crude and gasoline inventories, partly offset by a larger-than-expected distillate draw, while US crude production rose slightly.
UK inflation climbs to four-month high as energy bills rise
UK inflation accelerated in July as higher energy bills pushed headline CPI to 2.9% YoY from 2.6% in June, broadly in line with expectations and slightly above the BoE’s 2.8% forecast. The increase was largely driven by a 13% rise in the household energy price cap, partly offset by cheaper motor fuel and airfares. Underlying inflation pressures were more contained, with services inflation easing to 3.4% from 3.6%, while core inflation held steady at 2.6%.
Dollar weakens as Treasury buybacks push long-end yields lower
The 10-year government bond yield (interpolated) on the previous trading day was 2.134, -0.22 bps. The benchmark government bond yield (LB365A) was 2.09, -1.00 bps. Meantime, the latest closed US 10-year bond yields was 4.65, -6.0 bps. USDTHB on the previous trading day closed around 33.12, moving in a range of 32.85 – 32.87 this morning. USDTHB could be closed between 32.75 – 33.00 today. The dollar weakened as long-end Treasury yields fell after the US Treasury announced plans to at least double liquidity-support buybacks for longer-dated securities, pushing dollar index back to May levels around 98.84. Further downside may be limited, however, as the increase applies only to the current refunding quarter. FOMC minutes had little impact, reiterating that higher rates may be needed if inflation remains persistent. Against the softer dollar backdrop, the euro was among the strongest performers, gaining momentum after breaking above 1.1600, while the British pound also advanced despite mixed UK inflation data, with headline CPI in line with expectations but core inflation firmer than forecast. The Japanese yen strengthened alongside the decline in US yields, sending USD/JPY below the 159.00 level.
Sources : ttb analytics , Bloomberg, CNBC, Trading economics, Investing, CEIC
