Post by account_disabled on Jan 2, 2024 0:26:22 GMT -5
Starting with the ISM industrial production index for September, the lowest level since June 2009 was 47.8 from 49.1 the previous month. A figure below 50 reflects a contraction in overall production. This is a result of the uncertainty of the trade war. Next came ADP's announcement of US private sector employment figures, which increased by 135,000 jobs in September. This was lower than the 140,000 jobs expected by the market and lower than the 157,000 jobs gained in August. This was followed by the announcement of the ISM Services Purchasing Managers Index for September at 52.6, down from 56.4 in August. and lower than the market's expectation of 55.0. The numbers were announced causing investors to begin expressing concern over the prospect of a slowdown in the US economy. Reflected through the probability that the market expects the US Federal Reserve The policy rate cut of 25 bps at the October meeting rose to 85% by the end of the week.
From a probability level of 39% at the beginning of the week While looking at the US Federal Reserve meeting in December The futures market has put the probability that the policy rate will drop to 1.25-1.50% at 45%. Meanwhile, major economies like Australia have moved forward with easing monetary policy by reducing interest rates by 25 bps. at 0.75%, which is considered the third interest rate cut this year along with signaling further easing of Telegram Number Data monetary policy. As for the Thai government bond yield curve (Government Yield Curve), the slope has decreased. That is, short-term government bond yields rose as a result of an increase in the supply of short-term government bonds. Including the Bank of Thailand's decision to maintain interest rates on September 25th. Meanwhile, long-term yields decreased in line with the world market. This is a result of concern over the slowdown of the economy. Closing the week of October 4, 2019, the yields on Thai government bonds with maturities of 1, 2, 3, 5, 7 and 10 years were 1.39%, 1.36%, 1.36%, 1.38%, 1.44% and 1.50%, respectively.
This is considered a new direction for the banking system. There is an example that has already been successful in China, including the Alibaba case, where loans are provided to both sellers and buyers. By looking at information from the history of product trading through the platform or in the case of WeChat, etc. “What banks can do to a certain extent is use transaction data. Deposits-withdrawals-transfers-payments are taken into consideration, but every bank does not have information on what was purchased. To sell anything clearly, you must join hands with the platform. It takes it to another level. This approach is the future of the banking system. Because at present small entrepreneurs still have little access to credit. Because there is no guarantee I think every bank is trying to go this way. Who can hold hands first? should be able to gain an advantage,” Mr. Naris said. However, in this first phase, we will probably see cooperation in lending mainly to the seller side. It has also advanced to granting loans to product buyers. or cannot use the platform services yet This is because there may be limits on the disclosure of personal information. This is different from Alibaba which is more convenient. Because there is no need to send customer information to other companies. But it is done under the same company group. “What Alibaba does They provide loans to both sellers and buyers. That is, when people buy products, they always pay well and they get credit in advance. This is another step that the Thai bank has not yet reached. But I believe in the future Lending to the buyer side It is what banks want to do,” Mr. Naris said. Even though currently loans from this channel have not grown much, But it is believed that in the future this battleground will definitely compete for customers more fiercely.
From a probability level of 39% at the beginning of the week While looking at the US Federal Reserve meeting in December The futures market has put the probability that the policy rate will drop to 1.25-1.50% at 45%. Meanwhile, major economies like Australia have moved forward with easing monetary policy by reducing interest rates by 25 bps. at 0.75%, which is considered the third interest rate cut this year along with signaling further easing of Telegram Number Data monetary policy. As for the Thai government bond yield curve (Government Yield Curve), the slope has decreased. That is, short-term government bond yields rose as a result of an increase in the supply of short-term government bonds. Including the Bank of Thailand's decision to maintain interest rates on September 25th. Meanwhile, long-term yields decreased in line with the world market. This is a result of concern over the slowdown of the economy. Closing the week of October 4, 2019, the yields on Thai government bonds with maturities of 1, 2, 3, 5, 7 and 10 years were 1.39%, 1.36%, 1.36%, 1.38%, 1.44% and 1.50%, respectively.
This is considered a new direction for the banking system. There is an example that has already been successful in China, including the Alibaba case, where loans are provided to both sellers and buyers. By looking at information from the history of product trading through the platform or in the case of WeChat, etc. “What banks can do to a certain extent is use transaction data. Deposits-withdrawals-transfers-payments are taken into consideration, but every bank does not have information on what was purchased. To sell anything clearly, you must join hands with the platform. It takes it to another level. This approach is the future of the banking system. Because at present small entrepreneurs still have little access to credit. Because there is no guarantee I think every bank is trying to go this way. Who can hold hands first? should be able to gain an advantage,” Mr. Naris said. However, in this first phase, we will probably see cooperation in lending mainly to the seller side. It has also advanced to granting loans to product buyers. or cannot use the platform services yet This is because there may be limits on the disclosure of personal information. This is different from Alibaba which is more convenient. Because there is no need to send customer information to other companies. But it is done under the same company group. “What Alibaba does They provide loans to both sellers and buyers. That is, when people buy products, they always pay well and they get credit in advance. This is another step that the Thai bank has not yet reached. But I believe in the future Lending to the buyer side It is what banks want to do,” Mr. Naris said. Even though currently loans from this channel have not grown much, But it is believed that in the future this battleground will definitely compete for customers more fiercely.