Korean 10 year bond futures have........>

KOREA RATES: Korean 10 year bond futures have firmed on the day, up 6 ticks last

but they remain in their downtrend. Bears need to see a break below the Jan 22

low at 126.54 to build downside momentum. 

- Overseas investors have pulled $1.5bn from Korean bonds since the start of the

month, reversing some of last year's inflows as they shift out of bonds and into

stocks. 

- The Korean swap curve has seen some slight bearish steepening pressure over

recent days with the 2 year failing to break back above 1.80% and the 10 year

finding support at this level. The curve remains flat relative to the rest of

the region and the world.