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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.
KOREA RATES
The MOF plans to sell KRW 14.5tn of bonds in April, compared to KRW 17.2tn in March against an original plan of KRW 14tn.
Key differences in the April plan:
- 2-Year auction KRW 100bn bigger
- 3-Year auction split into pre-issue/fungible sale
- 10-Year auction KRW 100bn smaller, also to split into pre-issue/fungible sale
- Includes inflation linked sale for KRW 100bn
- 20-Year auction KRW 200bn smaller
- Includes KRW 700bn 50-year auction, 50-year auctions will no be monthly (rather than semi-monthly)
- It was flagged previously that South Korea would minimise issuance of longer-tenure bonds in order to address yield curve inversion in the long end.
- Fig.1: April Issuance Plan
Source: South Korea MOF
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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