THAILAND: Thaksin Departs For Medical Check-Up In Singapore

Sep-04 14:16

Local media outlets report that Pheu Thai Party (PTP) patriarch Thaksin Shinawatra has left the country for a medical check-up in Singapore. Sources from Pheu Thai suggest that he is planning to come back within a couple of days and attend a court hearing on September 9.

  • Thai Enquirer noted that authorities conducted thorough checks of Thaksin's paperwork before letting him leave the country. The checks confirmed that his acquittal in a lese-majeste case last month resulted in the removal of his travel ban and he was eventually allowed to depart.
  • Thaksin's latest court verdict opened a window of opportunity for him to leave the country ahead of the next ruling on the so-called '14th floor' case, in which he stands much lower chance of acquittal. This had fuelled speculation that he might use this window to flee the country to avoid imprisonment.
  • A source close to Thaksin told Khaosod that he was planning to return immediately after his medical checks. His personal lawyer Winyat Chatmontri said that his client was planning to come back and attend the hearing next week. Similar assurances were made by Pheu Thai sources speaking to local media.
  • However, Khaosod's Pravit Rojanaphruk writes that 'Thaksin will probably wait to see how things pan out tomorrow during PM vote and assess the risks of detention until the last minute before deciding whether to return to Bangkok to hear the court verdict on Sept 9. If he's not confident, then adios.'

Historical bullets

EUR: FX Exchange Traded Option

Aug-05 14:09

FX Exchange trade Option, looking for EUR upside, doesn't cover the next Sep ECB meeting (11th Sep):

  • EURUSD (5th Sep) 1.1600c, bought for 0.0096 in 1.4k.

BUNDS: A few ticks gained post US ISM

Aug-05 14:05
  • Bund sees a small jump higher after the ISM and some of its components come below expectations, Price paid was decent beat, but MNI noted some upside risk to price on our preview.
  • Moves and ranges are still fairly limited although the US Emini has pushed through the session low.

US TSYS: Post-ISM Services React

Aug-05 14:04
  • Fast two-way post-data trade, Treasury futures still weaker but off lows after mostly lower ISM Services data, prices paid higher than expected.
  • Tsy Sep'25 10Y futures currently trades -4.5 at 112-07.5 vs. 112-05 low. Initial technical support well below at 110-19+, the Jul 24 low. Key support is 110-08+, the Jul 14 and 16 low.
  • Initial resistance above at 112-15.5 (Aug 5 high) followed by 112-23 (May 1 high).
  • Curves remain flatter: 2s10s -1.504 at 50.004, 5s30s -2.032 at 103.203.