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20-Year Supply Up For Grabs

SOUTH KOREA

The MOF will today auction KRW 75bn of 20-year bonds, issue KTB 01500-4009. Results due after 0230GMT/1030KST.

  • The MOF last sold 20-year debt on Jan 26, the sale drew a yield of 1.90% and was covered 2.99x.
  • The 5-year auction was well received yesterday thanks to a 4.5bps yield concession, and helped pick futures off lows. The market is still wary of risks surrounding the proposed extra budget, with indications from the government that they will decide on the size of the budget by Feb 26 and submit the proposal in early March.

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