Kaohoon Morning Brief – 1 November 2023

Finansia Syrus Securities (FSS) expected Thailand’s SET Index to move in a sideways trend with a chance for a short rebound after a sharp decline yesterday. The overall outlook has limited upside as the market lacks positive catalysts. Meanwhile, the US 10-year bond yield was maintaining at around 4.93% last night.

The analyst recommended investors to monitor the US Treasury Refunding Announcement for guidelines of its coupon rate and maturity and also the Fed’s meeting on the interest rate.


The market priced in 96% chance that the Federal Reserve will maintain its interest rate at 5.25-5.50% at the meeting on Wednesday. Inflation showed signs of decelerating, but still too high in Fed’s view. Meanwhile, the economy is growing at a solid pace despite the highest benchmark interest rates.

Expectations for rate cut have been pushed from June to July with a 35% chance of the central bank to ease monetary policy.


Yemen has officially declared war on Israel, according to Brigadier General Yahya Saree, spokesperson of the Yemeni Armed Forces.

The Republic of Yemen is the first country to officially announce its entry into the war as the military launched a large number of ballistic and winged missiles and drones at a number of Israeli IOF targets inside occupied Palestine.


According to Morningstar Direct, 66% of the time November has positive returns averaging 1.44% since 1945. Meanwhile, 75% of the time December has positive returns averaging 1.55% since 1945.