The sentiment reflects little confidence that the country’s fourth leader in three years will deliver the reforms needed to reverse weak governance and policy drift. As a result, the yield curve may steepen further, driven by interest rate cuts and government spending expectations, while equities stay depressed as capital flows elsewhere, investors say.
(Feb 4): Thailand’s inability to revive its economy has left its stocks and bonds in an unenviable position: cheap, unloved and increasingly irrelevant.
Some of the world’s biggest money managers say this weekend’s general election is prompting them to keep exposure limited, as the outcome will only compound existing challenges like elevated household debt and weak growth. Those pressures helped make Thai stocks among the worst performers globally last year and its bonds trailing most emerging market peers in 2026.
