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Won't Issue Deficit Bonds For Extra Budget

KOREA RATES

Futures in South Korea lower, but off session lows. South Korean Finance Minister Hong crossed the wires saying the MOF would review allocating a second extra budget, but added that South Korea won't need to issue deficit bonds for the extra budget. 10-Year future rose from 124.98 to 125.07 last, down 3 ticks on the session. There were reports earlier this week that government ministries and state agencies have requested a 6.3% hike in their budgets for next year as they seek to cope with post-pandemic economic recovery and implement key policy projects.

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