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Needle Still Points South


Yields Bounce as Equities Make New Monthly Highs


Heading North


Bull Rally Accelerates


Economists Survey Raises 2021 CPI Forecast To 4.9%

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Futures lower in South Korea as risk on sentiment dominates and domestic equity markets record robust gains, futures choosing to ignore another move higher in UST's. 3-Year last down 1 tick while the 10-Year is down 9 ticks. US/SK spreads continue to narrow, the 2-Year spread last at 100.7bps from highs of 134bps in August. The BoK submitted a report to parliament that confirmed the Central Bank will gradually adjust the degree of accommodation, adding that they will mindful of growth in asset prices and household debt when enacting monpol. Meanwhile the finance ministry released its monthly economic report and highlighted continued uncertainty as slumps in person-to-person service sectors have extended amid the latest spike in COVID-19 cases, but noted labour market recovery and export recovery.