THAILAND: PM Prayuth Orders Parliament Dissolution On March 20
Mar-17 09:36
Thailand's Prime Minister Prayuth Chan-o-cha confirms that the House of Representatives will be dissolved on Monday and says that he has already submitted relevant documents to the King.
- The dissolution of parliament paves the way for a general election pencilled in for May 7, with the House's tenure set to expire on Thursday.
- The final hurdle to dissolving the legislature was cleared on Thursday, as the Electoral Commission unveiled the boundaries of the 400 constituencies.
- Following the 2021 reforms, Thailand will use a parallel voting system, with 400 MPs to be elected in single-seat constituencies and 100 MPs by party-list voting.
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NORGES BANK: DNB Upgrade Their Peak Rate View to 3.50% From 3.25%
Feb-15 09:35
- Following the GDP release this morning, DNB write that "So far, Norges Bank has underestimated the strength in the economy towards the end of 2022.
- "Together with higher inflation and a weaker NOK, this suggests for a higher rate path from Norges Bank at the March meeting. We have forecast 25bp hike in March and in June. We now expect also a 25bp hike at the May meeting."
- As such, they now see a peak rate at 3.50% in June, up from 3.25%.
OUTLOOK: Price Signal Summary – Sell-on-Rallies Theme Dominates in GBP
Feb-15 09:35
- GBPUSD maintains a sell-on-rallies theme as price failed to retain upside momentum after the 1.2269 print Tuesday. Recent weakness reinforces a S/T bearish theme and signals scope for a continuation. Sights are on the 200-dma at 1.1947.
- USDJPY topped the key short-term level marking the 50-day EMA on Tuesday. The break above 132.77 suggests scope for an extension higher that would expose 134.77, the Jan 6 high more broadly. The more medium-term trend direction for now remains down and recent gains are considered corrective.
- AUDUSD finished flat after a volatile Tuesday session. The uptrend remains intact for now, and the recent move lower highlights a correction that is allowing a recent overbought trend condition to unwind.
EGB SYNDICATION: Belgium 30y: Spread set
Feb-15 09:32
- Spread set at 1.40% Jun-53 OLO mid +8bps (guidance was +10bps area)
- Size: EUR Benchmark (MNI expects E5bln)
- Books in excess of E32bln (inc E2.9bln JLM)
- Maturity: 22-June-2054
- Coupon: Annual ACT/ACT, short first to 22-Jun-2023
- ISIN: BE0000358672
- Bookrunners: BNPPF, DB, JPM (B&D/DM), MS, NOMURA
- Timing: Books to clsoe at 10:15GMT / 11:15CET
From market source
