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The strong rally in Korean rates over...>

KOREA RATES
KOREA RATES: The strong rally in Korean rates over the past week has added to
its gains today with the curve 1-2bps higher despite early weakness. The 2-year
swap recovered from the 1.90% level in line with the Kospi's turnaround.
- Markets continue to focus on the Nov 30 rate decision which is looking like a
close call. 
- The Korea Development Institute (KDI), a state-run think tank noted today that
the Korean economy is faced with increasing downside risks, and can head into a
downward cycle, revising its growth forecast for this year to 2.7% from 2.9%
previously. It also called for the economy to grow at a slower pace of 2.6% in
2019 due to weaker private spending and exports.

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