Bonds gain, baht steady
- Published: 27 Dec 2012 at 10.46
- Online news: News
Thailand's government bonds rose, sending the seven-year yield to the lowest level in more than two weeks, as demand for safer assets increased after budget talks in the United States stalled.
Stocks in the world's largest economy fell on Wednesday as US President Barack Obama planned to return to Washington before a year-end deadline for budget revisions needed to prevent more than US$600 billion in automatic tax increases and spending cuts.
Fiscal Policy Office director general Somchai Sujjapongse forecast on Wednesday that Thailand's economy will expand 5% in 2013, less than an earlier estimate of 5.2%.
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