Korea Bond Market Daily Report: 10/25/2024

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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 2.89% ▼ 4.5 ▼ 34.9 ▼ 111.3
10Y KTB 3.07% ▼ 5.4 ▼ 23.2 ▼ 119.5
Term Spread(bp) 18.3 ▼ 0.9 ▲ 11.7 ▼ 8.2
Corp. AA- 3Y 3.46% ▼ 4.8 ▼ 52.0 ▼ 135.0
Credit spread(bp) 56.9 ▼ 0.3 ▼ 17.1 ▼ 23.7

US Treasury Yields

US Treasury Yields Recent DoD (bp) YTD (bp) YoY (bp)
2Y US Treasury 4.08% ▲ 1.3 ▼ 24.7 ▼ 93.7
10Y US Treasury 4.21% ▼ 2.6 ▲ 26.4 ▼ 61.6
Term Spread(bp) 13.1 ▼ 3.9 ▲ 51.1 ▲ 32.1

[Market Trends].

South Korea's GDP growth of 0.1% in October significantly missed expectations, raising concerns about economic growth and pushing interest rates lower.
In the US, the October S&P Manufacturing PMI beat expectations, showing that the manufacturing sector is still contracting but showing signs of improvement.

[Top economic news and events].

Top U.S. News

US weekly jobless claims came in at 227k, below expectations, and manufacturing PMI came in at 47.8pts, above expectations, which was a positive sign.
S&P Global Services PMI exceeded expectations at 55.3 points, indicating that the services economy is recovering.

Featured News

South Korea's third-quarter GDP growth of 0.1% missed expectations by a wide margin, casting doubt on the country's domestic recovery.
With the Bank of Korea expected to revise its economic growth forecast for this year, the market is expecting a rate hike or cut.

Other News and Events

New home sales in the US rose 4.1% to the highest level in 16 months.
Stocks closed mixed in New York, with Tesla shares surging after the close after the company reported earnings per share that beat consensus.

[Response Strategy].

In the short term, portfolio strategies should be prepared for lower GDP growth in South Korea and possible interest rate cuts in the Korean market. In addition, given the positive trend of economic indicators in the U.S., we should look for promising investment opportunities in global markets.

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-10-25-2024/

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