Korea Bond Market Daily Report: 10/11/2024

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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 2.96% ▲ 3.0 ▼ 27.8 ▼ 103.5
10Y KTB 3.09% ▲ 1.1 ▼ 21.8 ▼ 113.1
Term Spread(bp) 12.6 ▼ 1.9 ▲ 6.0 ▼ 9.6
Corp. AA- 3Y 3.54% ▲ 2.5 ▼ 43.8 ▼ 123.5
Credit spread(bp) 58 ▼ 0.5 ▼ 16.0 ▼ 20.0

US Treasury Yields

US Treasury Yields Recent DoD (bp) YTD (bp) YoY (bp)
2Y US Treasury 3.95% ▼ 3.7 ▼ 37.7 ▼ 103.7
10Y US Treasury 4.06% ▲ 0.3 ▲ 11.3 ▼ 51.7
Term Spread(bp) 11 ▲ 4.0 ▲ 49.0 ▲ 52.0

[Market Trends].

In September 2024, US CPI rose 2.4%, beating expectations, with core CPI also exceeding expectations at 3.3%. The month-over-month increase was +0.31%, continuing the trend of rising inflation.
The announcement of South Korea's inclusion in the FTSE Russell WGBI will see the weight of South Korean government bonds reach 2.22% from November 2025. This change is expected to have a stabilizing effect on exchange rates and interest rates in the short term.

[Top economic news and events].

Top U.S. News

The U.S. CPI rose 2.4% year-over-year in September, higher than market expectations of 2.3%. Prices are trending upward, particularly for housing and healthcare services.
Atlanta Fed President Bostic hinted at the possibility of a rate hike in the future, and the recently released CPI data supports this stance.

Featured News

The Korean government aims to raise the international profile of Korean government bonds by inclusion in the FTSE Russell WGBI starting November 2025.
Choi Sang-mok, Minister of Strategy and Finance, noted that the recovery in the domestic sector has been slow, indicating that stimulus measures are needed.

Other News and Events

In the U.S., Hurricane Milton caused a spike in oil prices, which rose by more than 3%, driven by increased fuel purchases.
Former President Trump overtook Harris by 11.6 percentage points, reportedly increasing political tensions.

[Response Strategy].

In the current environment, there is a need to rebalance bond and equity portfolios, seek stable returns, and strengthen liquidity strategies in case of external economic shocks.

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-10-11-2024-2/

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