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Auction Details

KOREA RATES

The South Korean MOF will today auction KRW 400bn of 50-Year bonds, issue KTB 01625-7009. Results due after 0330BST/1030HKT.

  • The MOF last sold 40-year debt on June 11, the sale drew an average yield of 2.165% and was covered 1.618x.
  • Yields have fallen recently with safe haven assets bid as South Korea grapples with a fourth wave of coronavirus. Case numbers hit a record high yesterday and have stayed over 1200 for two days straight, prompting the government to discuss raising social distancing step in Seoul to highest level, which will ban private gatherings of 3 or more people after 6pm. In the past week yields in the 50-year sector have fallen 10.3bps, the 50-year issue currently yields 2.065%.

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