Kaohoon Morning Brief – 24 October 2023

Finansia Syrus Securities (FSS) expected Thailand’s SET Index to move within the range of 1,380-1,340 points, declining from the absence on Monday’s trading session that saw markets traded lower.

As for the ongoing war, many parties are working on diplomatic negotiation to calm the situation down, which resulted in lower oil prices and bond yields on Monday. The US dollar also weakened as well.

The analyst recommended investors to monitor Thailand’s trade data coming out today. The market expected exports to decline 1.8% YoY. The subcommittee will also convene a meeting to discuss the digital-wallet scheme as well.


Oil prices plunged over 2% on Monday, but bounced back today to over $90 a barrel once again as the market is still concerned about the escalation of Israel and Hamas to a wider range within the oil-exporting region, which could disrupt global supply.

The international benchmark Brent crude rose 0.85% to $90.59 a barrel and the West Texas Intermediate gained 0.84% to $86.21 per barrel.

Economists from Nomura Securities expected WTI to move within the range of $80-$90 a barrel for some time as investors are monitoring the situation in Israel and Gaza, OPEC production and the recovery in China.


The US Yield Curve had been rapidly steepening in the past few days with the spread between the 10-year yield (4.98%) and 2-year yield (5.14%) now at -0.16%, up from -0.71% a month ago. The spread was the smallest inverted curve since July 2022.

This has been a so-called “bear steepening” with long-term 10-year yields, accelerating faster than short-term 2-year yields.