Empty Hotels Drive Thailand to Best Sovereign Gain: Asean Credit

Thailand’s sovereign bonds are beating their Asian peers on bets interest rates will be cut as anti-government protesters block roads and scare off tourists during the peak Chinese New Year holiday period.

Local-currency debt returned 1.5 percent in the past three months, Bloomberg indexes show. That compares with drops of 6.2 percent in Indonesia, 4.3 percent in the Philippines and 1.2 percent in Malaysia. The Bank of Thailand may have to cut its 2.25 percent benchmark rate as early as its next meeting on March 12, according to Barclays Plc and ING Groep NV.