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Thailand’s 10-Year Bonds Advance on Capital Inflows; Baht Steady

Nov. 27 (Bloomberg) -- Thailand’s 10-year government bonds rose after global investors added to holdings amid optimism the local economy is improving. The baht was steady.

Imports climbed 22 percent in October, beating the median forecast in a Bloomberg survey for a 9.6 percent gain, official data showed yesterday. Inbound shipments fell 7.7 percent in September. Foreign funds purchased $655 million more local debt than they sold this month through yesterday, according to data from the Thai Bond Market Association.

“A big increase in imports indicates the strong domestic demand in Thailand,” said Tohru Nishihama, an economist at Dai-ichi Life Research Institute Inc. in Tokyo. “Funds continue to flow into the Southeast Asia region, including Thailand and especially to the bond markets.”

The yield on the 3.65 percent bonds due December 2021 fell one basis point, or 0.01 percentage point, to 3.38 percent as of 3:08 p.m. in Bangkok, according to data compiled by Bloomberg.

The baht was unchanged from yesterday at 30.68 per dollar, according to data compiled by Bloomberg. One-month implied volatility, a measure of expected moves in exchange rates used to price options, held steady at 4.3 percent.

To contact the reporter on this story: Yumi Teso in Bangkok at yteso1@bloomberg.net

To contact the editor responsible for this story: James Regan at jregan19@bloomberg.net

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