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SOUTH KOREA: Bond Futures Rally Again. 

SOUTH KOREA
EM BulletBulletSouth KoreaAPACEmerging Market News
  • Korean futures have taken back all of yesterday’s sell off and added to it in strong gains today, led by the 10YR.
  • Korea’s 10YR future is up +.31 to 118.65, well above yesterdays close of 118.34.
  • In early January the 10YR future broke through all major technical levels and have stayed above them since, dragging them higher.
  • Korea’s 10YR technical levels are: 20-day EAM 118.06,  50-day EMA 117.93, 100-day EMA 117.77 and 200-day EMA 117.65.
  • By contrast, Korea’s 3YR future is up just +0.4 at 106.90, above yesterday’s close of 106.86 and above all technical levels with the 20-day EMA at 106.84.
  • Korea’s markets are being impacted directly from the tariff war with the KOSPI falling -2.52% Monday, only to recover the losses yesterday and today.
  • Today’s data CPI was ahead of expectations, creating uncertainty as to whether the BOK will cut rates at their next meeting on February 25.
  • Cash markets have seen yields lower across the curve with the long end lower by 2-3bps. KTB 10YR 2.826% -2bps today.    
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  • Korean futures have taken back all of yesterday’s sell off and added to it in strong gains today, led by the 10YR.
  • Korea’s 10YR future is up +.31 to 118.65, well above yesterdays close of 118.34.
  • In early January the 10YR future broke through all major technical levels and have stayed above them since, dragging them higher.
  • Korea’s 10YR technical levels are: 20-day EAM 118.06,  50-day EMA 117.93, 100-day EMA 117.77 and 200-day EMA 117.65.
  • By contrast, Korea’s 3YR future is up just +0.4 at 106.90, above yesterday’s close of 106.86 and above all technical levels with the 20-day EMA at 106.84.
  • Korea’s markets are being impacted directly from the tariff war with the KOSPI falling -2.52% Monday, only to recover the losses yesterday and today.
  • Today’s data CPI was ahead of expectations, creating uncertainty as to whether the BOK will cut rates at their next meeting on February 25.
  • Cash markets have seen yields lower across the curve with the long end lower by 2-3bps. KTB 10YR 2.826% -2bps today.