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Rising Tide Of Vaccine News Lifts All Ships

KOREA RATES

Korean 10-year bond futures have rallied today after losing around 30 ticks into the close yesterday. The relief comes as the South Korean government announced deals to buy additional coronavirus vaccines for 23m people, the deals include Novavax vaccines for 20m people and Pfizer products for 3m. The report has provided a boost across asset classes in the region with bond futures, the KOSPI and the won all higher on the day.

  • In terms of supply the Bank of Korea will sell 2-year paper tomorrow, the MOF will sell 10-year inflation linked securities on Friday. The MOF will conduct a conversion offer tomorrow for 30-year paper, details in the next bullet.

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