Economy

2024-01-20 13:39:10

The “Fixed Income Weekly” note from BMCE Capital Global Research (BKGR) for the period from January 10 to 16 reports an average bank liquidity deficit, reaching MAD 129.7 billion.

Here are the main points of the “Fixed Income Weekly” note from BMCE Capital Global Research (BKGR) which covers the period from January 10 to 16:

Money Market :

– The average bank liquidity deficit reduced by 9.81% to 129.7 billion dirhams (billion dirhams). – Treasury investments show a clear decline with a maximum daily outstanding amount of MAD 23.4 billion recorded on January 17, 2024.

– The weighted average rate stabilizes at 3%. – Over the next period, BAM should increase its rate of intervention in the money market with the injection of MAD 51.8 billion in the form of 7-day advances.

Bond market:

– The Treasury carried out three small lifts on the 13-week, 52-week and 2-year lines for a total amount of MAD 1.1 billion at the respective limit rates of 2.83%, 2.975% and 3.259%.

– These operations induced respective reductions in the primary rates of these maturities of 7 basis points (bps), 9.3 bps and 3.4 bps.

– On the secondary market, the largest rate increases were recorded on the 26-week (+11.4 bps), 10-year (+6.8 bps) and 2-year (+5.6 bps) lines, while the 15-year line is down (-10.6 bps).

– The Treasury should continue its downward marking of rates at least until the next BAM Council.

IMD with MAP

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#Money #markets #bank #liquidity #deficit

2024-01-20 10:05:42

Economic news 20 Jan. ’24 10:09 a.m. 2024-01-20

Kasikorn Bank (KBANK) views the movement of the baht next week (22-26 Jan. 2024) at the level of 35.00-35.80 baht per dollar. Meanwhile, the Kasikorn Research Center assesses important factors that need to be monitored, including: Export figures for December of Thailand, signals of foreign capital, results of the BOJ and ECB meetings, including the setting of the Chinese central bank’s LPR interest rate.

Meanwhile, important US economic figures include orders for durable goods. New home sales Home sales pending closing Personal income/expenses and the price index of general and basic personal consumption expenditures (PCE/Core PCE Price Indices) in December, 4Q23 GDP numbers (1st time) and the number of people applying for weekly unemployment benefits. In addition, the market is also waiting to follow the PMI index (preliminary) for January in Japan, the Eurozone, England and the United States as well.

On Friday, January 19, 2024 (before the New York market session), the baht closed at 35.52 baht per dollar, compared to 35.06 baht per dollar. On the previous Friday (12 Jan. 2024)

As for the investment portfolio status of foreign investors between 15-19 Jan. 2024, foreign investors net sold Thai stocks for 10,938 million baht and had a status of Net Outflows from the Thai bond market for 8,761 million baht (net sales 8,331 million baht of bonds and 430 million baht of expired debt instruments)

in the past week The baht continues to depreciate It recorded the weakest value in more than 1 month at 35.71 baht per dollar. During the week, the baht briefly strengthened at the beginning of the week, supported by an increase in gold prices in the world market. In addition, there is still no signal of changing the monetary policy guidelines from the BoT. However, the baht turned to depreciate during the Leftovers of the week After there was a signal that The government’s economic stimulus measures may be delayed while the US dollar gradually strengthens following the increase in US bond yields. This is consistent with the market gradually reducing the possibility of seeing the Fed cut interest rates at its March meeting. come down

In addition, the depreciation of the baht was also consistent with net selling pressure on Thai stocks and bonds by foreign investors. However, the baht lost its weakening period and partially bounced back at the end of the week following the direction of the currency. Asia as a whole

By InfoQuest News Agency (20 Jan. ’24)

Tags: KBANK, baht value, Kasikorn Bank, exchange rate, baht
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#KBANK #baht #range #35.0035.80 #week #weakest #eye #Thai #export #numbers #InfoQuest

2024-01-20 12:30:23

2024-01-20 22:04:10

US stocks continued their strong performance last week and achieved their second weekly gain this year, supported by strong economic data and rising consumer confidence, reaching the highest level since July 2021.

The Standard & Poor’s and Dow Jones indices recorded record closings supported by the technology sector.

Expectations of a decline in inflation and the start of a monetary easing cycle boosted stock gains, as the Dow Jones closed by regarding 1%, or 395 points, at the second record close this month, and the index achieved weekly gains of 0.7%. Standard & Poor’s rose 1.25%, or 58 points, recording a record close following exceeding the 4,796 points it recorded in January 2022, bringing the week’s gains to 1.15%.

The wave of rises extended to include the Nasdaq index, as it recorded a weekly increase of 2.25%. The gains were supported by technology, as the shares of “Meta”, the owner of “Facebook”, closed at a record level of $383.45, while “Nvidia” shares achieved the seventh record closing in a month at $594.91. AMD shares ended trading at the second record close of $174.23.

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#technology #sector #soars #stocks