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KOREA RATES

A few auctions from South Korea tonight:

  • The Bank of Korea will sell KRW 700bn of 1-year MSB's (monetary stabilization bonds) results due after 0230BST/1030KST.
  • The MOF will sell a total KRW 3tn 3-year bonds, consisting of a, KRW 1.2tn pre-issuance (KTB 00000-2406) results due after 0230BST/1030KST and KRW 1.8tn fungible issue (KTB 00875-2312) results due after 0330BST/1130KST.
  • The MOF last sold 3-year debt on March 8 for a total KRW 3.1tn, the sale drew an average yield of 1.090% and was covered 2.90x.
  • Data from the FSS showed that foreign funds invested net KRW 9.1tn in South Korea-listed bonds in March, a new record amount since last month.

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