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Korean 10-year bonds have continued.....>

KOREA RATES
KOREA RATES: Korean 10-year bonds have continued their advance today adding 20
ticks to trade at fresh cycle highs of 125.52 as Korean bonds continue to
outperform the US. 
- This comes amid a recovery in Korean stocks suggesting that it lower oil
prices are the main driver of the space currently.
- 10-year breakevens are down almost 40bps over the past 6 weeks to trade at
just 0.89%, sending real yields to 2-month highs and taking pressure off the BOK
to hike any time soon.
- 2-year swaps trade down 1bp at 1.8450% as the Oct 31 lows comes back into
focus.

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