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SOUTH KOREA: Big Falls for Korean Bond Futures Again Today. 

SOUTH KOREA
EM BulletBulletSouth KoreaAPACEmerging Market News
  • Korea’s 10YR future is down for the third successive day today.
  • Following yesterday’s fall of -0.73, the 10yr is down -0.55 today to be at 118.41.
  • Bond markets had been strong from just prior to the BOK meeting on February 25, with the 10YR reaching a high of 120.20 on March 04.
  • The move in recent days has trended through the 20-day EMA of 118.66 towards the 50-day EMA of 118.32.
  • There are signs that the bullish momentum has diminished as the 20-day EMA’s upward slope has now all but disappeared, a bearish sign.
  • Korea’s 3YR future is down also by -0.13 at 106.65 and sits atop the 100-day EMA with the 200-day EMA at 106.56.
  • Despite the release of February CPI data suggesting more rate cuts are possible, the move in bonds has been significant, suggesting that some tariff risk was embedded in the bond pricing.
  • The KTB curve saw yields as much as 3.5bps higher with the 5YR and 10YR the underperformers.  3YR 2.62% (+2.5bp)   5YR 2.719% (+3.2bp)     10YR 2.817% (+3.3bp)
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  • Korea’s 10YR future is down for the third successive day today.
  • Following yesterday’s fall of -0.73, the 10yr is down -0.55 today to be at 118.41.
  • Bond markets had been strong from just prior to the BOK meeting on February 25, with the 10YR reaching a high of 120.20 on March 04.
  • The move in recent days has trended through the 20-day EMA of 118.66 towards the 50-day EMA of 118.32.
  • There are signs that the bullish momentum has diminished as the 20-day EMA’s upward slope has now all but disappeared, a bearish sign.
  • Korea’s 3YR future is down also by -0.13 at 106.65 and sits atop the 100-day EMA with the 200-day EMA at 106.56.
  • Despite the release of February CPI data suggesting more rate cuts are possible, the move in bonds has been significant, suggesting that some tariff risk was embedded in the bond pricing.
  • The KTB curve saw yields as much as 3.5bps higher with the 5YR and 10YR the underperformers.  3YR 2.62% (+2.5bp)   5YR 2.719% (+3.2bp)     10YR 2.817% (+3.3bp)