Surprising Emergence of Thailand as Bond-Flow Magnet in Charts

Its sovereign bonds don’t yield much more than U.S. Treasuries, they cost less to insure than Spanish notes and its currency is more stable than China’s managed yuan.

In a sign of how the flood of money into emerging markets is upending conventional wisdom, military-run Thailand with a credit rating just three levels above junk at Moody’s Investors Service has become a favored low-yielding destination for bond investors.

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