Futures Holding This Week's Gains As Coronavirus Cases Jump

Futures in South Korea higher, the 3-Year contract up 7 ticks at 110.52, 10-Year contract up 4 ticks at 128.89. Yields mostly lower in the cash space, 10-Year bucking the trend and rising 0.5bps. Participants will look ahead to the KRW 100bn 10-Year linker auction tomorrow. PPI figures will also be released tomorrow.

• On the coronavirus front there were 2,152 new cases in the past 24 hours, up from 1,805 yesterday with the long weekend being blamed for increased transmission. Daily infections rebounded after falling to 1,556 on Monday and 1,373 on Tuesday due to fewer tests over the weekend and the Liberation Day that fell on Monday. The record high sits at 2,222 which was recorded on Aug 11. The government said Wednesday it will decide on whether to maintain the strongest virus restrictions for another two weeks on Friday.