Thailand–JGB 10Y Spread

The Thailand–JGB 10Y Spread is the yield on Thailand's 10-year government bond minus the yield on the Japanese 10-year government bond (JGB). It represents the carry-funding differential, as the yen is a primary global funding currency. A wider spread makes Thailand a more attractive target for yen carry trades, while a narrowing spread or a Bank of Japan tightening move can trigger carry unwinds.