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Korean interest rate swaps are..........>

KOREA RATES
KOREA RATES: Korean interest rate swaps are looking to close the session on a
strong note, with the 2-year rising 3bps on the day to trade at 1.9475%, a
six-week high. The downtrend from the May peak is under threat should we see a
close at current levels. 
- While the entire cure is higher, the rise in the short end has been muted,
with the 1s-2s spread rising 4bps over the past four days suggesting that rate
hike expectations are increasingly being centered around 2019/2020. 
- The rise in rates has followed breakeven inflation expectations, which
continue to face upside pressure from rising oil prices, a pickup in money
supply growth, and increasing fiscal deficits. 

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