MNI BRIEF: Carney Sworn In As PM, Names Champagne To Finance

MNI BRIEF: Olli Rehn Gets Second Term As Bank Of Finland Head

MNI China Daily Summary: Friday, March 14

MNI BRIEF: China February M2 Stays At 7% Y/Y

RPT-MNI INTERVIEW2: Lag Justifies Faster CNB Easing - Holub

CHINA JAN-FEB NEW LOANS CNY6.14 TRLN VS MEDIAN CNY6.43 TRLN

Copy - EZ/UK T-Bill Calendar: 1/3/6-month UKTB Due Thursday

EZ/UK Bond Supply Calendar: SlovGB Auction Monday

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY MAR INDEX 57.9

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

SOUTH KOREA:  Bond Futures Recover from Early Losses.   

SOUTH KOREA
EM BulletBulletSouth KoreaAPACEmerging Market News
  • Following the sell-off in US bond markets overnight drove yields higher, Korean futures opened much weaker in morning trading.
  • Since the year to date high in early February the weakening bias has been evident in Korean bonds; driving futures lower.
  • Korea’s 10YR future closed lower for the day yesterday at 117.99 and dropped at the open to be -.28 lower (at 117.71) by mid-morning trading in Seoul only to recover from the early losses back to 117.78 into the afternoon.
  • The move lower has seen the 10YR trade through the 100-day EMA of 117.82, with the next key technical level, the 200-day EMA.
  • The move lower brings the 10YR back to levels from mid-January when despite not cutting rates, the BOK governor stated clearly in the post meeting press conference that they were in a rate-cutting phase.
  • Cash markets are not immune from the outsized move with the yields across the curve higher.  The KTB 10YR is at 2.90% +1.5bps
159 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • Following the sell-off in US bond markets overnight drove yields higher, Korean futures opened much weaker in morning trading.
  • Since the year to date high in early February the weakening bias has been evident in Korean bonds; driving futures lower.
  • Korea’s 10YR future closed lower for the day yesterday at 117.99 and dropped at the open to be -.28 lower (at 117.71) by mid-morning trading in Seoul only to recover from the early losses back to 117.78 into the afternoon.
  • The move lower has seen the 10YR trade through the 100-day EMA of 117.82, with the next key technical level, the 200-day EMA.
  • The move lower brings the 10YR back to levels from mid-January when despite not cutting rates, the BOK governor stated clearly in the post meeting press conference that they were in a rate-cutting phase.
  • Cash markets are not immune from the outsized move with the yields across the curve higher.  The KTB 10YR is at 2.90% +1.5bps