Korea Bond Market Daily Report: 10/2/2024

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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% ▼ 1.5 ▼ 42.9 ▼ 107.3
10Y KTB 2.99% ▼ 0.8 ▼ 31.4 ▼ 103.8
Term Spread(bp) 18.1 ▲ 0.7 ▲ 11.5 ▲ 3.5
Corp. AA- 3Y 3.40% ▼ 1.2 ▼ 58.3 ▼ 126.1
Credit spread(bp) 58.6 ▲ 0.3 ▼ 15.4 ▼ 18.8

US Treasury Yields

US Treasury Yields Recent DoD (bp) YTD (bp) YoY (bp)
2Y US Treasury 3.66% ▲ 11.0 ▼ 67.0 ▼ 137.0
10Y US Treasury 3.81% (3.81%) ▲ 6.0 ▼ 14.0 ▼ 78.0
Term Spread(bp) 15 ▼ 5.0 ▲ 53.0 ▲ 59.0

[Market Trends].

The ISM Manufacturing Index for September came in at 47.2, below expectations of 47.5, while JOLTS job openings for August came in at 8.04 million, above expectations of 7.69 million. This mixed bag of data sent US Treasury rates lower.
Treasury rates saw limited losses amid slowing US PCE inflation and increased expectations of an October rate cut by the Bank of Korea. Lower trading volumes towards the end of the quarter also had an impact.

[Top economic news and events].

Top U.S. News

U.S. stocks closed lower on news of military clashes between Iran and Israel. Specifically, concerns about Iran firing 180 missiles at Israel negatively impacted the market.
The ISM Manufacturing PMI for September came in at 47.2, slightly below expectations, marking the sixth consecutive month of contraction. The new orders index rose, but the employment index fell.

Featured News

South Korea's Armed Forces Day holiday did not cause any significant changes in the bond market, which contributes to maintaining a stable trading environment from a risk management perspective.

Other News and Events

News of Iran's launch of an attack on Israel has impacted international oil prices, causing a spike in oil prices. Iran's foreign minister has announced that the action is over in the absence of further Israeli retaliation.

[Response Strategy].

With the current interest rate volatility in the U.S. and Europe, there is a strong need to be sensitive to market changes, especially when adjusting portfolios to reflect geopolitical risks and global economic conditions.

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-10-2-2024-2/

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