Kaohoon Morning Brief – 6 October 2023

Finansia Syrus Security (FSS) expected Thailand’s SET Index to move within the range of 1,445-1,460 points, boosted by stocks in Domestic Play that should benefit from the economic recovery, while inflation remained at a lower rate. However, the energy sector continued to pressure the market after the decline of crude oil prices.

The U.S. 10-year bond yield closed at around 4.75%, while the Dollar Index was slightly weakened.


Oil prices dropped 2% on Thursday, extending loss from the previous season by a total of nearly 6% amid concerns about falling fuel demand that overwhelmed an OPEC+ decision to maintain its temporary output cut to keep supply tight.

The international benchmark Brent crude fell $1.74 or 2.03% to $84.07 a barrel, while the U.S. West Texas Intermediate dropped  $1.91 or 2.3% to $82.31 per barrel.

Oil price plunged about $10 a barrel within 10 days, derailing its path to $100 level.


Meanwhile, Bob Michele, global head of fixed income, currency and commodities at JPMorgan Asset Management, stated that a soft landing and a recession are both good scenarios to own bonds as yields typically fall after a central bank’s last rate hike, generating significant capital gains.