All about Foreign Currency, Oil, Interest, Bond, Commodities

1. Capital Markets Research
Mar 17, 2011
Thai Stock Market US Market (as of opening)
Mar 16 Change Mar 16 Change
SET Index Dow Jones
1008.13 +5.03 11,613.30 -242.12
Market Turnover (Bt mn) 29,065.44
Nasdaq -8,586.22 2,616.82 -50.51
Foreign Net Position (Bt mn) -1,777.64
S&P 500 -803.18 1,256.88 -24.99
Thai Bond Market US 10 yr T-note (%)
Mar 16 Change 3.19 -11 bp
Total Return Index 201.55
US 2yr T-note (%) -0.07 0.56 -5 bp
NYMEX crude ($/b) 97.98 -0.80
Yield curve 1m 3m 6m 1yr 2yr 3yr 5yr 7yr 10yr 12yr 14yr 18yr
Mar 16 (%) 2.18 2.38 2.60 2.74 3.02 3.22 3.39 3.66 3.82 4.01 4.08 4.17
Chng 1D (bp) +2 +1 +0 +1 +1 +0 +0 +0 -2 -1 -1 -2
Chng 5D (bp) +9 +2 -1 -3 -5 -11 -7 -2 -8 -5 -7 -6
Interbank Rates Mar 17 Mar 15 BIBOR 1w 1m 2m 3m 6m 9m 1yr
Overnight (%) 2.50 2.300-2.460 Mar 16 2.50750 2.53250 2.60000 2.65875 2.79375 2.84500 2.90250
Repurchase Rates 1-day 7-day 14-day 1m SIBOR 1m 3m 6m
Mar 16 2.50000 2.50000 - - Mar 16 0.26850 0.31450 0.47350
THBFIX (Ref.) 1m 2m 3m 6m 9m 1yr LIBOR 1m 3m 6m
Mar 16 2.20525 2.25522 2.19037 2.46607 2.61998 2.77071 Mar 16 0.25350 0.30900 0.46000
SWAP (THB/THB,Onshore) 1yr 2yr 3yr 4yr 5yr 7yr 10yr
Mar 17 Bid/Ask 2.53/2.55 2.82/2.86 3.06/3.10 3.28/3.29 3.41/3.45 3.65/3.69 3.86/3.88
KBank Counter Rates Buying Selling Premium/Discount (stgs/m)
(against THB) Sight Bill T/T T/T Export/Import
USD 30.09 30.19 30.44 1.90/9.00
EUR 41.7138 41.8513 42.3825 1.25/8.23
GBP 48.0213 48.1813 48.7638 2.98/8.94
JPY 0.3760 0.3773 0.3843 2.38/9.68
KBank Technical Analysis Mar 17 Mar 16 Support Resistance Trend Strategy
THB (Onshore) 30.33 30.39 30.25 30.40 Sideway Sell USD near resistance
JPY 79.24 78.13 79.10 82.60 Sideway Sell USD near resistance
EUR/USD 1.3911 1.3901 1.3850 1.3950 Sideway Sell EUR near resistance
Macro and Market Outlook
• U.S. and European stocks slumped while “fear index” surged to June 2010 high
• Oil price in the U.S. fluctuated below $100/barrel. Concerns about Japan’s delays in production
and growth outlook dampened oil price outlook while the heightened risks in the Middle East is
making market nervous about oil price surge
• Eurozone inflation rate rose to 2.4% while U.S. producer price inflation quickened to 5.6%
FX Market Wrap
• USD/JPY slumped past historical low of 79.75 in 1995 to 76.35 intraday on the back of global
risk aversion and Japanese repatriation of investment funds
• USD/THB remained near 30.40 on the back of short-term unwinding of banks’ long-position in
USD/THB. The baht may weaken today in line with other regional currencies such as the TWD,
MYR and SGD for the near term
Economic News Update
• Japan’s Finance Minister Yoshihiko Noda said that markets are nervous as the yen reached its
strongest level in the postwar era
Now you can listen to today’s exchange rate trend (press 711) and our summary of exchange rate movements (press 721)
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1
For private circulation only. The foregoing is for informational purposes only and not to be considered as an offer to buy or sell, or a solicitation of an offer to buy or sell any security. Although the information herein was
obtained from sources we believe to be reliable, we do not guarantee its accuracy nor do we assume responsibility for any error or mistake contained herein.
Further information on the securities referred to herein may be obtained upon request.

2. KBank Daily Update Mar 17, 2011
the back of higher costs for energy, food and raw materials.
Macro and Market Outlook The U.S. will announce its CPI data today.
Asian stocks recovered yesterday after the NIKKEI
rebounded to above 9,000 pts. However, major stock Europe’s CPI accelerated from 2.3% in January to 2.4% in
indices in the U.S. and Europe slumped more than 1.0% on February, adding pressure on the central bank to raise
the back of poorer economic data and concerns for the policy rate this year to curb inflation expectations.
damaged nuclear plants in Japan.
%
0.5
0.45
US Treasuries and Thai rates
0.4 Treasuries fell, snapping a three- day gain, on speculation
0.35 this week’s rally has been excessive.
0.3
0.25
The yield on the benchmark 10-year note climbed two
0.2
0.15
basis points to 3.19 percent as of 10:58 a.m. in Tokyo,
0.1 according to data compiled by Bloomberg
Jan-10 Mar-10 May-10 Jul-10 Sep-10 Nov-10 Jan-11 Mar-11
% bp
Libor JPY 1m Libor JPY 3m Libor JPY 6m
4.0 310
The 1m Libor JPY remained higher than pre-earthquake at 3.8 290
3.6
0.2% despite BOJ’s injection of about 33 trillion yen since 3.4
270
Monday to ease financial market pressure. At the same 3.2 250
time, the VIX index (the market’s gauge of “fear” in the U.S. 3.0 230
stock markets) had also risen rapidly from 21 on Monday to 2.8
210
2.6
29.4 yesterday. This was the highest level since Greece’s 190
2.4
debt restructuring in May 2010. 2.2 170
Mar-10 Jun-10 Sep-10 Dec-10 Mar-11
50 90
88 10yr Treasury yield, % (left axis) 2-10 Spread (bps, RHS)
45
86
40
84
35 82
30 80 Thai interest rate: IRS and bond yields looked to stay low
25 78
76
amid the global risk aversion trade. At the same time, the
20 positive bond auction yesterday also helped to confirm
74
15 72 positive demand of government bonds. Whilst the BOT
10 70 seemed to be playing a small role in the USD/THB FX
Jan-10 Apr-10 Jul-10 Oct-10 Jan-11 swap market, leading short-dated IRS yields to fall slightly.
VIX (left axis) DXY (right axis)
In any case, local yields rebounded on Wednesday from
There are heightened risks of more violence in Bahrain as lows made earlier in the week and are expected to remain
troops moved in from Saudi Arabia to curb protests after in range for the time being.
requests from the ruling royal family of Bahrain. At the
same time, Libya’s government seemed to have moved in % Mid-curve government bond yields
closer to gain back grounds from the protestors and the 4.2
son of Muammar Qaddafi displayed confidence of victory
by saying yesterday that the unrests would end in 48 3.8
hours. Meanwhile, Moody’s downgraded Egypt’s long-term 3.4
rating to Ba3 with a negative outlook, indicating possibility
3.0
of further downgrades.
2.6
Oil price in the U.S. fluctuated below $100/barrel. Concerns 2.2
about Japan’s delays in production and growth outlook Nov-10 Dec-10 Jan-11 Feb-11 Mar-11
dampened oil price outlook while the heightened risks in
the Middle East is making market nervous about oil price LB133A LB15DA LB16NA LB21DA
surge.
%
Ministry of Finance of Israel said its private offering of 1-
10
year bonds to foreign investors, in particular Thai mutual
8 funds, was highly successful. Israel was able to raise as
6 much as $124 mn in recent offering. Local mutual funds’
4 continuity in foreign investment may be helping to ease
2 USD/THB pressure on the down side and the hedging
0
activities are helping to keep swap points low. In any case,
-2
-4 we would have to continue watching out for the volume of
-6 such activities.
-8
Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11
PPI % YoY PPI % MoM sa
U.S. producer price index accelerated more than expected
to 5.6% yoy (consensus 4.7% , prior 3.6%) in February on
2
For private circulation only. The foregoing is for informational purposes only and not to be considered as an offer to buy or sell, or a solicitation of an offer to buy or sell any security. Although the information herein was
obtained from sources we believe to be reliable, we do not guarantee its accuracy nor do we assume responsibility for any error or mistake contained herein.
Further information on the securities referred to herein may be obtained upon request.

3. KBank Daily Update Mar 17, 2011
FX Wrap Currency Movement
Wed 16-Mar-11 Tue15-Mar-11 % Change
1.42
1.40 USD/THB 30.42 30.48 -0.20
1.38 USD/JPY 77.32 80.70 -4.19
1.36 EUR/USD 1.391 1.400 -0.61
1.34 GBP/USD 1.5988 1.6073 -0.53
1.32 USD/CHF 0.8980 0.9163 -2.0
1.30 USD/SGD 1.2829 1.2819 +0.08
1.28 USD/TWD 29.53 29.54 -0.03
1-Dec 16-Dec 31-Dec 15-Jan 30-Jan 14-Feb 1-Mar
USD/KRW 1,136.0 1,133.55 +0.21
EUR/USD
USD/PHP 43.73 43.75 -0.05
USD/IDR 8,790 8,772 +0.21
EUR/USD was led lower to a close of 1.391 as global
growth uncertainties dampens expectation of ECB’s policy USD/MYR 3.050 3.065 -0.49
rate hike in the near term, despite that inflation rate rose to USD/CNY 6.571 6.572 -0.01
2.4% in February Source: Reuters
.FX Consensus Forecast
USD/JPY slumped past historical low of 79.75 in 1995 to
76.35 intraday on the back of global risk aversion and Spot Jun 2011 Dec 2011
Japanese repatriation of investment funds. It is difficult to
USD/THB 30.35 30.00 29.00
determine the bottoming of the USD/JPY as we are now at
a new low but there might be rebounds today as the market USD/JPY 79.62 85.00 88.00
continues to assess impacts of the disaster in Japan. EUR/USD 1.39 1.35 1.35
BOJ may also intervene as a stronger yen is detrimental to GBP/USD 1.60 1.60 1.62
Japan’s recovery outlook. Yet, for the near term, global risk
USD/CNY 6.57 6.47 6.31
aversion and expectation of repatriation continues to lead
the view for the yen to remain strong. USD/SGD 1.28 1.26 1.23
USD/IDR 8,779 8,875 8,800
85.00
84.00
USD/MYR 3.06 3.00 2.93
83.00 USD/PHP 43.97 43.00 42.00
82.00 USD/KRW 1,138 1,095 1,050
81.00 USD/TWD 29.62 28.95 28.50
80.00
AUD/USD 0.98 1.00 0.98
79.00
NZD/USD 0.72 0.76 0.74
78.00 Source: Bloomberg, KBank for USD/THB
1-Dec 1-Jan 1-Feb 1-Mar
Currency Pair Targets
USD/JPY
Spot Jun 2011 Dec 2011
USD/THB remained near 30.40 on the back of short-term USD/THB 30.45 30.00 29.00
unwinding of banks’ long-position in USD/THB
JPYTHB 38.12 35.29 32.95
(speculations that there were substantial orders from
exporters to sell JPY/THB prior to the earthquake). The EURTHB 42.23 40.50 39.15
baht may weaken today in line with other regional GBP/THB 48.59 48.00 46.98
currencies such as the TWD, MYR and SGD for the near
term. The global market remained in risk aversion mode CNY/THB 4.62 4.64 4.60
with uncertainties of Japan’s nuclear plants ongoing and AUD/THB 29.74 30.00 28.42
the estimation of various forms of impacts from last week’s CHF/THB 21.90 22.80 21.46
disaster still underway.
SGD/THB 23.65 23.81 23.58
31.10 Source: KBank, Bloomberg
30.90
30.70
KBank NEER Index
30.50 Current 98.36
30.30 YTD + 5.63%
30.10
vs 52 weeks ago + 2.57%
29.90
vs 1mth ago - 0.07%
29.70
29.50 vs 1 week ago - 0.01%
1-Oct 1-Nov 1-Dec 1-Jan 1-Feb 1-Mar vs 1 day ago - 0.04%
USD/THB vs long term average + 10.51%
Note: NEER is constructed from the weighted average of bilateral exchange
rates of the baht via Thailand’s 21 major trading partners and trade
competitors. An increase in NEER refers to an appreciation
3
For private circulation only. The foregoing is for informational purposes only and not to be considered as an offer to buy or sell, or a solicitation of an offer to buy or sell any security. Although the information herein was
obtained from sources we believe to be reliable, we do not guarantee its accuracy nor do we assume responsibility for any error or mistake contained herein.
Further information on the securities referred to herein may be obtained upon request.

4. KBank Daily Update Mar 17, 2011
Total Return Analysis – 3 month horizon, annualized Auction results of Government bonds Mar 16
Yield shift (bps) -40 -30 -20 -10 0 +10 +20 +30 +40 Bid-
Tenor Amt. Accepted
LB116A 2.61 2.56 2.51 2.46 2.41 2.36 2.31 2.26 1.96 Symbol Avg. Yield (%) coverage
(yrs) (Bt mn) Range (%)
ratio
LB11NA 3.55 3.33 3.10 2.88 2.66 2.44 2.21 1.99 1.52
LB316A 20.62 6,000 4.178/4.180 4.179700 2.41
LB123A 4.14 3.80 3.46 3.13 2.79 2.46 2.12 1.79 1.20
LB14NA 4.00 8,000 2.72125/2.75125 2.737630 1.81
LB12NA 5.22 4.65 4.08 3.52 2.95 2.38 1.82 1.25 0.43
Source: ThaiBMA
LB133A 5.90 5.19 4.48 3.77 3.06 2.35 1.64 0.92 -0.04
LB137A 6.46 5.64 4.82 4.00 3.19 2.37 1.55 0.74 -0.33 Auction Calendar of Government Bonds
LB13OA 6.90 5.98 5.07 4.16 3.25 2.34 1.42 0.51 -0.65 Tenor Amt.
Symbol Auction Date Maturity Date Remark
LB143A 7.35 6.34 5.32 4.30 3.29 2.27 1.25 0.24 -1.03 (yrs) (Bt mn)
LB145A 7.68 6.58 5.47 4.37 3.27 2.17 1.07 -0.04 -1.39 LB17OA 7.09 10,000 30-Mar-11 10-Oct-17 -
LB145B 7.67 6.57 5.47 4.37 3.27 2.16 1.06 -0.04 -1.39 Source: ThaiBMA
LB14DA 8.56 7.27 5.98 4.69 3.40 2.12 0.83 -0.46 -1.99
LB155A 9.33 7.86 6.38 4.91 3.43 1.96 0.48 -0.99 -2.71
LB157A 9.21 7.77 6.33 4.90 3.46 2.03 0.59 -0.84 -2.53
LB15DA 10.10 8.41 6.73 5.05 3.37 1.68 0.00 -1.68 -3.61
LB167A 10.81 9.00 7.19 5.38 3.57 1.76 -0.05 -1.85 -3.91
LB16NA 11.33 9.39 7.46 5.52 3.58 1.64 -0.30 -2.23 -4.42
LB171A 11.42 9.48 7.53 5.59 3.64 1.70 -0.24 -2.19 -4.38
LB175A 11.93 9.86 7.79 5.72 3.65 1.57 -0.50 -2.57 -4.88
LB183A 13.22 10.84 8.46 6.08 3.70 1.33 -1.05 -3.43 -6.05
LB183B 12.96 10.65 8.33 6.02 3.71 1.39 -0.92 -3.23 -5.79
LB191A 13.74 11.25 8.75 6.26 3.77 1.27 -1.22 -3.71 -6.45
LB196A 14.65 11.92 9.19 6.46 3.73 1.01 -1.72 -4.45 -7.42
LB198A 14.48 11.81 9.14 6.48 3.81 1.14 -1.52 -4.19 -7.10
LB19DA 14.76 12.03 9.30 6.57 3.84 1.11 -1.62 -4.34 -7.32
LB213A 15.87 12.87 9.88 6.88 3.89 0.90 -2.09 -5.08 -8.32
LB214A 15.74 12.79 9.83 6.88 3.92 0.97 -1.98 -4.93 -8.13
LB22NA 17.81 14.35 10.90 7.44 3.99 0.54 -2.91 -6.35 -10.05
LB233A 18.25 14.71 11.17 7.62 4.09 0.55 -2.99 -6.52 -10.31
LB236A 19.36 15.55 11.73 7.92 4.10 0.29 -3.52 -7.32 -11.38
LB244A 19.48 15.64 11.80 7.97 4.14 0.31 -3.52 -7.35 -11.43
LB24DA 20.08 16.10 12.11 8.13 4.15 0.17 -3.81 -7.78 -12.00
LB267A 20.60 16.50 12.40 8.30 4.21 0.12 -3.97 -8.06 -12.40
LB283A 22.28 17.77 13.26 8.75 4.24 -0.26 -4.76 -9.26 -14.00
LB296A 23.56 18.73 13.90 9.08 4.26 -0.56 -5.37 -10.18 -15.24
LB383A 28.35 22.34 16.33 10.33 4.33 -1.66 -7.64 -13.62 -19.85
LB396A 29.12 22.92 16.73 10.54 4.36 -1.82 -8.00 -14.16 -20.57
Average 13.18 10.79 8.40 6.01 3.62 1.24 -1.15 -3.53 -6.17
Source: KBank, Bloomberg
KBank Rich – Cheap Model
40.00
30.00
20.00
10.00
0.00
-10.00
-20.00
-30.00 3 mth avg
Now
-40.00
LB296A
LB113A
LB116A
LB11NA
LB123A
LB133A
LB137A
LB145B
LB14DA
LB155A
LB15DA
LB167A
LB16NA
LB175A
LB183B
LB191A
LB196A
LB198A
LB19DA
LB213A
LB24DA
LB267A
LB283A
LB396A
Source: Bloomberg, KBank The 3-month average indicates the average differences between observed and derived yields
4
For private circulation only. The foregoing is for informational purposes only and not to be considered as an offer to buy or sell, or a solicitation of an offer to buy or sell any security. Although the information herein was
obtained from sources we believe to be reliable, we do not guarantee its accuracy nor do we assume responsibility for any error or mistake contained herein.
Further information on the securities referred to herein may be obtained upon request.

5. KBank Daily Update Mar 17, 2011
Economic News Update
Noda Says Markets Are Nervous, Bank of
Japan Injects Liquidity: Japan’s Finance Minister
Yoshihiko Noda said that markets are nervous as the yen
reached its strongest level in the postwar era, while the
central bank pumped 5 trillion yen ($63 billion) into money
markets.
Noda declined to comment on whether the ministry would
order the Bank of Japan to intervene in the foreign-
exchange markets, after the yen climbed as high as 76.36
per dollar. The currency rose amid speculation Japanese
investors will repatriate assets as the costs of the March 11
earthquake and tsunami escalate. The Nikkei 225 Stock
Average slid 4 percent as of 9:45 a.m.
Policy makers have so far focused on offering intraday
cash to banks, with the central bank limiting its additional
monetary stimulus three days ago to 5 trillion yen, an
amount about one- tenth the size of the U.S. Federal
Reserve’s quantitative easing. A government official
speaking on condition of anonymity said that local
institutional investors have abundant yen, and that
repatriation wasn’t significant after the 1995 Kobe
earthquake.
“With Japan facing a difficult situation, the yen’s rapid
advance could damp its economy further, which is not good
for the global economy,” said Masafumi Yamamoto, chief
currency strategist at Barclays Bank Plc in Tokyo, saying
it’s possible the Group of Seven could mount joint
intervention to sell yen.
Japan’s currency was at 79.35 per dollar as of 9:55 a.m. in
Tokyo, retreating from the high reached earlier today. The
rout in the equity market has brought the Nikkei 255’s
losses to 16 percent since the magnitude-9 earthquake and
ensuing tsunami devastated northeast Japan and crippled
the cooling systems at a nuclear power plant.
The government is still struggling to get the Fukushima
Dai-Ichi nuclear facility under control, with helicopters
dropping water on the plant in an effort to prevent a
meltdown.
A stronger exchange rate threatens to add an additional
burden to a Japanese economy that will already suffer from
the damage wrought by the most powerful temblor to strike
the nation. Companies from Toyota Motor Co. to Sony
Corp. shut down factories in the aftermath, and gains in the
yen would erode their export earnings.
Japan’s exporters said they can remain profitable as long
as the yen trades at 86.30 per dollar or weaker, compared
with the previous year’s breakeven point at 92.90, the
Cabinet Office said in an annual survey released on March
11. (Source: Bloomberg)
Market Strategists:
Nalin Chutchotitham
Email: nalin.c@kasikornbank.com
Tel: 02-470-3235
5
For private circulation only. The foregoing is for informational purposes only and not to be considered as an offer to buy or sell, or a solicitation of an offer to buy or sell any security. Although the information herein was
obtained from sources we believe to be reliable, we do not guarantee its accuracy nor do we assume responsibility for any error or mistake contained herein.
Further information on the securities referred to herein may be obtained upon request.

6. KBank Daily Update Mar 17, 2011
Economic Calendar
Date / Time Country Event Period Consensus Actual Prior Revised
03/16/2011 01:15 US FOMC Rate Decision Mar-15 0.25% 0.25% 0.25% --
03/16/2011 06:00 SK Unemployment Rate (SA) FEB 3.60% 4.00% 3.60% --
03/16/2011 06:30 AU Westpac Leading Index (MoM) JAN -- -0.10% 0.80% 0.90%
03/16/2011 06:50 JN BSI Large All Industry (QoQ) 1Q -- -1.1 -5 --
03/16/2011 06:50 JN BSI Large Manufacturing (QoQ) 1Q -- -3.2 -8 --
03/16/2011 07:30 AU Dwelling Starts 4Q -1.40% -5.30% -13.20% -13.00%
Conference Board China January Leading
03/16/2011 09:00 CH Economic Index
03/16/2011 14:00 EC EU 25 New Car Registrations FEB -- 0.90% -1.40% --
03/16/2011 15:31 TH Total Car Sales FEB -- 77213 68398 --
03/16/2011 16:00 IT CPI (NIC incl. tobacco) (MoM) FEB F 0.30% 0.30% 0.30% --
03/16/2011 16:00 IT CPI (NIC incl. tobacco) (YoY) FEB F 2.40% 2.40% 2.40% --
03/16/2011 16:00 IT CPI - EU Harmonized (MoM) FEB F 0.20% 0.20% 0.20% --
03/16/2011 16:00 IT CPI - EU Harmonized (YoY) FEB F 2.10% 2.10% 2.10% --
03/16/2011 16:30 UK Claimant Count Rate FEB 4.50% 4.50% 4.50% --
03/16/2011 16:30 UK Jobless Claims Change FEB 1.3K -10.2K 2.4K 1.5K
03/16/2011 16:30 UK Average Weekly Earnings 3M/YoY JAN 2.10% 2.30% 1.80% --
03/16/2011 16:30 UK Weekly Earnings exBonus 3M/YoY JAN 2.20% 2.20% 2.30% --
03/16/2011 16:30 UK ILO Unemployment Rate (3mths) JAN 7.90% 8.00% 7.90% --
03/16/2011 17:00 EC Euro-Zone CPI - Core (YoY) FEB 1.10% 1.00% 1.10% --
03/16/2011 17:00 EC Euro-Zone CPI (MoM) FEB 0.40% 0.40% -0.70% --
03/16/2011 17:00 EC Euro-Zone CPI (YoY) FEB 2.40% 2.40% 2.30% --
03/16/2011 17:00 IT Current Account (mlns euro) JAN -- -8129M -5382M --
03/16/2011 17:00 EC Euro-Zone Labour Costs (YoY) 4Q 1.00% 1.60% 0.80% 0.90%
03/16/2011 18:00 US MBA Mortgage Applications Mar-11 -- -0.70% 15.50% --
03/16/2011 19:30 CA Manufacturing Sales MoM JAN 1.00% 4.50% 0.40% 0.60%
03/16/2011 19:30 US Housing Starts FEB 566K 479K 596K 618K
03/16/2011 19:30 US Building Permits FEB 570K 517K 562K 563K
03/16/2011 19:30 US Housing Starts MOM% FEB -5.00% -22.50% 14.60% 18.50%
03/16/2011 19:30 US Building Permits MOM% FEB 1.20% -8.20% -10.40% -10.20%
03/16/2011 19:30 US Producer Price Index (MoM) FEB 0.70% 1.60% 0.80% --
03/16/2011 19:30 US PPI Ex Food & Energy (MoM) FEB 0.20% 0.20% 0.50% --
03/16/2011 19:30 US Producer Price Index (YoY) FEB 4.70% 5.60% 3.60% --
03/16/2011 19:30 US PPI Ex Food & Energy (YoY) FEB 1.80% 1.80% 1.60% --
03/16/2011 19:30 US Current Account Balance 4Q -$110.0B -$113.3B -$127.2B -$125.5B
03/17/2011 04:00 SK Department Store Sales YoY FEB -- -- 24.00% --
03/17/2011 04:00 SK Discount Store Sales YoY FEB -- -- 21.40% --
03/17/2011 06:50 JN Tertiary Industry Index (MoM) JAN 1.40% -- -0.80% --
03/17/2011 06:50 JN Japan Buying Foreign Bonds Mar-11 -- -- -¥225.2B --
03/17/2011 06:50 JN Japan Buying Foreign Stocks Mar-11 -- -- ¥6.4B --
03/17/2011 06:50 JN Foreign Buying Japan Bonds Mar-11 -- -- ¥481.0B --
03/17/2011 06:50 JN Foreign Buying Japan Stocks Mar-11 -- -- ¥163.6B --
Source: Bloomberg
6
For private circulation only. The foregoing is for informational purposes only and not to be considered as an offer to buy or sell, or a solicitation of an offer to buy or sell any security. Although the information herein was
obtained from sources we believe to be reliable, we do not guarantee its accuracy nor do we assume responsibility for any error or mistake contained herein.
Further information on the securities referred to herein may be obtained upon request.