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Korean 10 year bond futures are up 10...>

KOREA RATES
KOREA RATES: Korean 10 year bond futures are up 10 ticks on the day as down
trend channel support holds for now after yesterday's test. A break below 126.50
would mark a bearish break and cement the downtrend from the Dec highs. Cash
yields are up 2.3bps on the day at fresh six week highs of 2.038%.
- Swap rates are not following suit, with the curve 1-2bps lower. This has seen
the spread between the 10 year bond and 10 year swap rise to 4 month highs of
21.6bps. 
- The back end of the curve remains susceptible to the on going rally in stocks
which has seen the Kospi ad another 0.5% today to close the gap left on Oct 11. 

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