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A broad recovery in risk appetite has...>

KOREA RATES
KOREA RATES: A broad recovery in risk appetite has seen 10 year Korean bond
futures move lower, extending yesterday's decline. Swap rates are also higher
across the board amid some slight steepening in the curve following recent
flattening. 
- The 10 year swap managed to hold above its Jan low despite coming close at
yesterday's low, and a move back above 1.80% would improve the outlook. 
- Today's weak unemployment release has failed to impact the space and largely
reflects the softness in the economy over the past six months or so. Forward
looking indicators, in particular the Kospi's continued rally paint a more
positive picture which puts bonds at risk. 

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