Free Trial

The Korean won has been an outperformer on....>

KOREA
KOREA: The Korean won has been an outperformer on the day with USDKRW dropping
0.6% to 1123.2 last thanks to a slight recovery in risk appetite. 
- 2 year interest rate swaps extended their bearish trend to fresh ytd lows
today, breaking below the Oct 30 lows to trade at 1.79%. The 10 year saw an even
steeper decline, shedding 4.4bps to trade at 1.7963 last. The 2-10 swap curve
sits at just 0.6bps, its lowest level since the brief inversion seen in 2011. 
- Today's meeting between BOK and Finance Ministry heads yielded very little new
information but markets have now completely priced out further hikes next year
as the prospect of a reversal of the November hike grows. The ongoing drop in
breakevens, driven largely by lower oil prices, is keeping real rates positive.

To read the full story

Close

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.