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A full week after the coup leaves the markets as follows-
Offshore overnight has slipped back to 34.5% - still high but down from 92.9% Friday (22/09) - this is still indicative of a shortage of THB in the offshore market - this remains a concern and would look for it to fall back further. (Normal would be 2-5% over onshore rates).
Onshore O/N down 1bp to 5.42%. Onshore yeild curve is now flat out to 1 year.
THB interbank trading 15 satangs weaker at 37.55 - noting that CNY firmer again overnight. Noting the expenisve offshore o/n THB rates - it is very expensive to SELL THB short - that is why so far there has been no weakness in the Baht.
SET - now trading unchanged to prior to the coup.
(Will make this the last update - unless anything drastic happens).
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Its My Life ..........!
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