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Futures Dip At The Open

KOREA RATES

Futures sold off at the open in South Korea, playing catch up with moves in US tsys after a strong US NFP print. 3-Year future is down 3 ticks at 110.20, 10-Year future down 33 ticks at 127.64.

  • On the coronavirus front South Korea reported 1,492 daily new coronavirus cases, back to below 1,500 on fewer tests over the weekend as the country has extended its highest virus rules for another two weeks due to relentless spread of the virus.
  • Elsewhere KDI, a state run think tank, said that the South Korean economy is facing heightened uncertainty as the recovery of domestic demand is likely to slow amid a recent spike in COVID-19 cases.
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