BANGKOK -- Foreign net-sells of Thai bonds during May and June exceeded Bt90 billion, according to Thai Bond Market Association.

At the end of June, foreign holding of Thai bonds fell to Bt770 billion.

Niwat Kanjanaphoomin, president of the Thai Bond Market Association, attributed the sell-off to the scaling-down of quantitative easing in the US. According to him, he bond market’s outlook depends on further injection in Japan and Europe, which has been slowing in recent months.

Meanwhile, Thai BMA expects a total of Bt400 billion of corporate bonds would be issued this year, above the previous target of Bt300 billion. In the first half of this year, about Bt200 billion were issued.