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Authorities Prepared To Curb Excessive Volatility

SOUTH KOREA
  • The government’s statement issued following an emergency meeting on financial market instability concluded ‘calm and rational decision making’ should be conducted and that South Korean markets had reacted ‘excessively.’
  • The officials pledged that they would respond with swift execution of market-stabilization measures if required.
  • This was sufficient to calm markets in Korea today with the KOSPI higher on the day and bond yields higher across the curve.

3yr 2.897% (+7.5bp) 5yr 2.916% (+9.5bp) 10yr 2.952% (+6.5bp) 30yr 2.876% (+5bp)

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