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2-Year Auction Details

KOREA RATES

The South Korean MOF will today sell KRW 850bn of 2-Year bonds, issue KTB 01250-2309. Results due after 0330BST/1030HKT.

  • The MOF last sold 2-Year debt on August 10, the sale drew an average yield of 1.25% and was covered 3.635x. The August sale was a total of KRW 150bn larger, split into a KRW 600bn fungible sale and KRW 400bn pre-issue sale. Yields in South Korea have risen sharply since the BoK rate hike in August, 2-Year yields are up 72bps this year and ~17.5ps since the hike. US/SK 2-Year spreads are at their widest since 2015 at over 135bps.

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