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Korean rate markets have failed to......>

KOREA RATES
KOREA RATES: Korean rate markets have failed to show much of a reaction to the
rise in Korean stocks and the resumption of the uptrend in US yields. 
- The 2-year Korean interest rate swap is up just 0.75bps today, having come off
its highs to trade at 1.8975%, capped by its 21-dma. The 21-day rolling
correlation with the Kospi remains elevated at around 0.9, while the correlation
between Korean and US swaps has fallen to zero in recent weeks as the BOK's
monetary policy increasingly detaches from the US. 
- The US-Korea 2-year swap spread now sits at a new high of 124.6bps.

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