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Korean assets are coming under..........>

SOUTH KOREA
SOUTH KOREA: Korean assets are coming under renewed downside pressure as the won
trades down 0.6%, the Kospi trades down 1.5%, and rate markets extend their
declines.
- USDKRW deals at 1126.30 last, supported by a resumption in risk aversion in
early trading and now coming under renewed pressure from a firming of the US
dollar broadly which is clawing back early losses. 
- The Korean swap curve continues to flatten with just 2.25bps separating the 2
year from the 10 year. The 10-year trades at ytd lows, while the 2-year is
honing in on the 2.80% level as bears look for a downside break to new ytd lows.

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