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Korean interest rate swaps continue.....>

KOREA RATES
KOREA RATES: Korean interest rate swaps continue to edge higher across the curve
as traders increasingly embrace the idea of a near-term resumption of the BOK's
hiking cycle. 
- The 6-month swap currently trades at its highest level since 2015 at 1.77% as
it breaks out of the range it has been in over the course of 2018. 
- We continue to see further upside as the huge spread between US and Korean
rates together with rising inflation expectations sees the BOK adopt a more
hawkish tone. 
- CPI figures for September will be released on Friday with expectations for a
slight uptick from August's 1.4% y-o-y. Any jump would raise the prospect of a
October 18 rate hike.

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