Korea Bond Market Daily Report: 9/26/2024

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Please note: The translations provided on this blog are generated automatically and may not be fully accurate. For the most precise information, refer to the original content in the source language.

Korea Bond Market Daily Report

Treasury yields

Treasury yields Recent DoD (bp) YTD (bp) YoY (bp)
3Y KTB 2.81% ▼ 4.2 ▼ 42.8 ▼ 106.4
10Y KTB 3.00% ▼ 2.9 ▼ 30.9 ▼ 101.5
Term Spread(bp) 18.5 ▲ 1.3 ▲ 11.9 ▲ 4.9
Corp. AA- 3Y 3.40% ▼ 3.8 ▼ 57.9 ▼ 123.9
Credit spread(bp) 58.9 ▲ 0.4 ▼ 15.1 ▼ 17.5

US Treasury Yields

US Treasury Yields Recent DoD (bp) YTD (bp) YoY (bp)
2Y US Treasury 3.49% ▼ 8.0 ▼ 84.0 0.0
10Y US Treasury 3.74% ▼ 1.0 ▼ 21.0 0.0
Term Spread(bp) 25 ▲ 7.0 ▲ 63.0 0.0

[Market Trends].

Expectations of a Fed rate cut increase the likelihood of a soft landing for the U.S. economy, pushing U.S. Treasury medium- and long-term yields higher.
US Treasury curve shifts to bearish steepening as selling volume is pulled out of the medium to long end of the curve despite strong bids for the 5-year note.

[Top economic news and events].

Top U.S. News

The 10-year U.S. Treasury yield rises to 3.78%, with the 2-year yield rising to 3.56%.
The probability of a Fed rate cut in November increases to 40.8%, according to CME FedWatch.

Featured News

BOK Governor Shin Sung-hwan said the central bank cannot afford to wait to cut rates until housing prices stabilize.
South Korea's consumer sentiment index came in at 100 points in September, down 0.8 percentage points from the previous month.

Other News and Events

The Swedish Riksbank cut its key interest rate to 3.25% from 3.50%.
The People's Bank of China announced a stimulus package, cutting the MLF rate by 30 basis points.

[Response Strategy].

The Bank of Korea has no room to maneuver to cut interest rates as it watches the slowing momentum of household debt growth and the housing market, so additional economic data will be crucial.

Disclaimer The information contained in this report has been obtained from sources believed to be reliable, but we do not guarantee its accuracy or completeness. This report is for informational purposes only and is not a solicitation or offer to buy or sell any security or financial instrument. Opinions expressed in this report are subject to change without notice. Investment decisions are the sole responsibility of the investor and you should seek professional advice as needed

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Original Post: https://aicraft.life/korea-bond-market-daily-report-9-26-2024/

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