Thailand government bonds
Thailand's bonds as US funds mark them in their filings (SEC Form N-PORT), by currency. Fund marks as of Jul 2026; they lag the market by about two months.
By currency
| Bonds | Measured against | Count | Spread | 10-year spread | Priced-in 5y odds | 1-month change | Median yield | Held by US funds |
|---|---|---|---|---|---|---|---|---|
| THB Own-currency bonds | own currency: yield only, no default number | 48 | — | — | — | — | 2.04% | $2.65B |
Priced-in odds = spread ÷ (1 − 40% recovery) over five years; it includes a risk premium and overstates actual defaults. Own-currency bonds get a yield and no odds: a government can print its own currency.
Thailand's THB curve
Yield to maturity of each THB bond US funds hold (44 bonds, government and government-related issuers, index-linked excluded), Jul 2026 fund marks. Hover a point for the bond.
Who holds Thailand's debt
Fund series holding Thailand's government and government-related bonds in their latest quarterly report: 85 now, 90 a quarter earlier. Names as reported in the filings.
| Fund series | Report | Bonds | Face value | Value |
|---|---|---|---|---|
| VANGUARD TOTAL INTERNATIONAL BOND II INDEX FUND | 2026-07-31 | 45 | $42.35B | $1.31B |
| VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND | 2026-07-31 | 45 | $34.48B | $1.07B |
| VanEck J.P. Morgan EM Local Currency Bond ETF | 2026-06-30 | 30 | $9.79B | $305.9M |
| PIMCO International Bond Fund (U.S. Dollar-Hedged) | 2026-06-30 | 1 | $4.54B | $140.2M |
| T. Rowe Price Dynamic Global Bond Fund | 2026-06-30 | 1 | $4.17B | $125.5M |
| State Street(R) SPDR(R) Bloomberg Emerging Markets Local Bond ETF | 2026-06-30 | 44 | $3.32B | $104.1M |
| iShares Core International Aggregate Bond ETF | 2026-07-31 | 35 | $2.51B | $78.8M |
| American Funds Emerging Markets Bond Fund | 2026-06-30 | 17 | $2.42B | $74.5M |
| Six Circles Global Bond Fund | 2026-06-30 | 22 | $1.96B | $60.7M |
| PIMCO Emerging Markets Local Currency and Bond Fund | 2026-06-30 | 5 | $1.62B | $51.0M |
| Emerging Markets Local Income Portfolio | 2026-07-31 | 3 | $1.16B | $35.9M |
| iShares J.P. Morgan EM Local Currency Bond ETF | 2026-07-31 | 30 | $998.5M | $30.8M |
| Fidelity Emerging Markets Debt Local Currency Central Fund | 2026-06-30 | 12 | $943.0M | $29.2M |
| State Street(R) SPDR(R) Bloomberg International Treasury Bond ETF | 2026-06-30 | 39 | $891.0M | $28.4M |
| Nuveen International Aggregate Bond ETF | 2026-06-30 | 29 | $845.4M | $27.1M |
| ABRDN ASIA-PACIFIC INCOME FUND, INC. | 2026-07-31 | 6 | $811.0M | $24.8M |
| BlackRock Strategic Income Opportunities Portfolio | 2026-06-30 | 2 | $822.0M | $24.5M |
| DoubleLine Emerging Markets Local Currency Bond Fund | 2026-06-30 | 3 | $770.1M | $23.7M |
| AB GLOBAL BOND FUND, INC. | 2026-06-30 | 2 | $758.1M | $23.7M |
| First Trust Emerging Markets Local Currency Bond ETF | 2026-07-31 | 2 | $693.9M | $23.0M |
ETFs holding Thailand's bonds
From each ETF's own latest N-PORT report, as a share of its net assets. A holdings list, not a recommendation.
| ETF | Report | Bonds | Value | % of net assets |
|---|---|---|---|---|
| BNDX VANGUARD TOTAL INTERNATIONAL BOND INDEX FUND | 2026-07-31 | 45 | $1.07B | 0.87% |
| EMLC VanEck J.P. Morgan EM Local Currency Bond ETF | 2026-06-30 | 30 | $305.9M | 6.28% |
| EBND State Street(R) SPDR(R) Bloomberg Emerging Markets Local Bond ETF | 2026-06-30 | 44 | $104.1M | 4.61% |
| IAGG iShares Core International Aggregate Bond ETF | 2026-07-31 | 35 | $78.8M | 0.70% |
| LEMB iShares J.P. Morgan EM Local Currency Bond ETF | 2026-07-31 | 30 | $30.8M | 4.31% |
| BWX State Street(R) SPDR(R) Bloomberg International Treasury Bond ETF | 2026-06-30 | 39 | $28.4M | 2.11% |
| NXUS Nuveen International Aggregate Bond ETF | 2026-06-30 | 29 | $27.1M | 0.70% |
| FEMB First Trust Emerging Markets Local Currency Bond ETF | 2026-07-31 | 2 | $23.0M | 6.35% |
| ELD WisdomTree Emerging Markets Local Debt Fund | 2026-05-31 | 18 | $10.0M | 7.44% |
| EMBX VanEck Emerging Markets Bond ETF | 2026-06-30 | 4 | $7.9M | 3.22% |
| BWZ State Street(R) SPDR(R) Bloomberg Short Term International Treasury Bond ETF | 2026-06-30 | 8 | $6.7M | 2.28% |
| HFSI Hartford Strategic Income ETF | 2026-07-31 | 5 | $1.3M | 0.12% |
| KHYB KraneShares Asia Pacific High Income USD Bond ETF | 2026-06-30 | 2 | $396K | 2.53% |
| TMSF T. Rowe Price Multi-Sector Income ETF | 2026-05-31 | 1 | $33K | 0.12% |
Sources: fund holdings and fund-reported marks from SEC Form N-PORT (published about 60 days after each month-end); 13F filings; House and Senate periodic transaction reports and OGE Form 278-T; Treasury yields from FRED. Findings from filings, not advice. How each number is computed.