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Korean rate markets are extending Friday's....>

KOREA
KOREA: Korean rate markets are extending Friday's declines, with the 2-year
dropping another 0.4bps to 1.8238% as last week's lows come back into focus. The
10-year also trades down 0.4bps, keeping the 2s-10s curve trades at 32.5bps.
- The drop in rates comes despite a slight uptick in the Kospi, which is paring
back some of Friday's losses, why partly explains the won's resilience to wider
US-Korea yield spreads. 
- USDKRW trades at 1131.4, giving back much of its earlier gains but remaining
up on the day. Bears look for a close back below 1130 to shift the near-term
outlook negative.

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