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30-Year Auction Today

KOREA RATES

he South Korean MOF will today auction KRW 3.3tn of 30-year bonds, issue # 01875-5103. Results expected after 0230BST/0930HKT.

  • The MOF last sold 30-year debt on March 2, the auction size was the same, the sale drew an average yield 2.075% of and a coverage ratio of 2.668.
  • Given the April plan is KRW 500bn higher than the planned amount in March HSBC notes "bond supply dynamics will largely depend on whether the strong demand for KTBs from the insurance sector holds up. We are relatively more constructive on the front-end of the KRW yield curve where we think carry is quite attractive and the market is pricing in too-aggressive policy tightening."

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