Futures Retrace Yesterday's Gain

Futures lower, the 10-year giving back some of yesterday's gain at 126.61 down around 7 ticks on the day.

• There were some comments from Vice FinMin lee earlier who noted that volatility was rising in South Korean markets due to the latest wave of coronavirus, adding that the government would strengthen monitoring on markets and risk factors. South Korea reported 1,150 new cases in the past 24 hours, above 1,000 for the seventh day. South Korea set a record high for daily cases Saturday with 1,378. Tighter restrictions in Seoul and the surrounding areas were started on Monday, authorities have warned that daily cases could exceed 2,000 later this month amid a spike in the number of delta variant cases. The vaccination drive appears to have slowed, a total of 30.4% of the population have had their first inoculation, compared to 29.8% at the end of June.