(Bloomberg) -- Thailand's 10-year local-currency bonds snapped an eight-day gain as yields at the lowest in more than 3 1/2 years prompted investors to buy new short-term fixed-income securities at an auction. The baht dropped.
The yield on 10-year notes has dropped more than 50 basis points since policy makers lowered borrowing costs for a third time this year on April 11. The central bank sold 50 billion baht of two-year notes today at an average yield of 3.26 percent from 3.87 percent at the March 27 sale.
Read more at Bloomberg Bonds News
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