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2026-04-08 13:08:53
[Nomura Strategist: Suggests Shifting Thai Baht Interest Rate Trading to Five-Year Curve After US-Iran Ceasefire] (1) Nomura strategist Nathan Sribalasundaram suggests shifting Thai baht interest rate trading from two-year to the five-year portion of the yield curve following the US-Iran ceasefire. (2) The ceasefire is expected to ease oil prices and provide support for Asian interest rates. The weak macroeconomic environment in Thailand and the Bank of Thailand's potential reluctance to take an aggressive response to oil-driven inflation make the risk bias lean towards lower interest rates. (3) The firm raised its confidence level for the five-year trade to 4/5, closed its two-year position, and reduced its US hedging position to 50%.
