“A few minutes before 6:00 a.m. ET, the Thai army interrupted all of local TV programming to announce it was assuming power.
It’s a military coup.
This comes two days after the military declared martial law.
By default, you might think this means chaos in the financial markets.
But judging by the markets subdued initial reaction, it doesn’t seem like that big of a risk event. The Thai baht weakened barely against the dollar (see chart). The news came minutes after Thailand’s stock market closed; the SET index climbed 0.16% today.
There’s at least two reasons why today’s news isn’t rocking markets. One, the country had already been in chaos. Months of anti-government protests had already left 28 people dead and saw the ouster of Prime Minister Yingluck Shinawatra….”
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