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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
ASIA RATES
South Korean sovereign bonds closed slightly richer yesterday, with yields flat to 1bp lower, ahead of Thursday’s Bank of Korea (BoK) Policy Decision.
- Although consensus expects the BoK to maintain the official rate at its current level with minimal adjustments to its neutral guidance, weak economic data and easing inflation expectations have caused the KORIBOR curve (1-month vs. 12-month) to bull-flatten to a historically inverted level.
- At -11bps, the current level mirrors that of mid-2019, which followed shortly after the BoK initiated its previous easing cycle.
Chart 1: BoK Official Rate (%) vs. KORIBOR (1-mth vs. 12-mth) Curve (%)
Source: MNI – Market News / Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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