– Thai Stocks Tumble As Army Censors Media To “Avoid Provoking Unrest” (ZeroHedge, May 19, 2014):
Despite proclamations that markets would open ‘normally’, Thai SET50 (stock market) futures are indicated to open -4.2% – its biggest drop since January’s collapse. Thai CDS are modestly wider (+5 to 130bps) but early Bhat weakness has been rescued back by a mysterious bidder (rumored to be the central bank by several traders). The last 2 times martial law was invoked – in an entirely non-coupy-coup-like manner – general market weakness was less than we have seen so far. Of course, the army has decided that in the interests of avoiding the “provocation of unrest and triggering fear” it will “ban the broadcast and distribution of news.” Nothing like a military-coup, that is not a coup, with total media censorship to encourage capital flows and maintain peace in the nation.
…