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​Futures Mixed As 10-Year Tracks US Tsys

KOREA RATES

Futures in South Korea are mixed, the 10-Year contract is up 16 ticks at 127.85 playing catch up with a move in US tsys, while the 3-Year contract is down 3 ticks at 110.31.

  • On the coronavirus front South Korea reported 1,987 new cases in the past 24 hours, New cases fell back below 2,000, but the peak of the current wave of the pandemic has not yet come amid calls for tougher measures to bring virus infections under control and slow vaccinations. The pace of vaccinations is still slow with 16% of people now fully vaccinated.
  • Finance Minister Hong was on the wires earlier saying the potential economic fallout of the fourth wave of the pandemic will be "inevitable" starting in August amid concerns that the recent virus resurgence will likely slow the economic recovery.
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