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Korean rates are seeing a sizeable......>

KOREA RATES: Korean rates are seeing a sizeable upside reversal today after
being under intense downside pressure over the past few weeks. The recovery in
global risk assets on the back of positive comments by Trump regarding trade
relations with China, as well as the strong Korean unemployment figure which
came in at 3.8% vs 3.9% exp. are supporting the space.
- The 2-year interest rate swap trades up 1.7bps at 1.84% after bears failed to
test the key 1.8% level. The 10-year is up 3.3bps at 1.8975% as the curve
steepens to its widest level in a week. 
- Fundamentally, the government's commitment to increase the minimum wage and
boost job creation should ultimately prove inflationary, but for now oil prices
are keeping downside pressure on inflation expectations. 

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