Markets undaunted after Thai coup


The military coup that swept Thailand's prime minister, Thaksin Shinawatra, out of power on September 19 has been met with a cool response from the financial markets, with little reaction outside Thailand.

While credit default swaps on Thai sovereign bonds touched 70 basis points in intra-day trading in the immediate aftermath of the coup, they quickly fell back to 45bp - just 10bp higher than a day before the military action.

"There was increased uncertainty and a bit of a shock reaction, which

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