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Futures Drop On Hawkish Dissent


Futures lower, taking a nosedive during BoK Governor Lee's press conference. He noted that one MPC member called for a 25bps hike, an unexpected hawkish dissent. Lee also said that the need for policy normalization was increasing due to financial imbalances, such as home prices and household debt. 3-year futures drop as much as 21 ticks to 110.11.

  • Lee did note in his press conference that the BoK could purchase government bonds if needed, he said the Bank could take various market stabilization steps if there's a need to ease volatility in market interest rates.

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