Korea Bond Market Daily Report: 10/8/2024

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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% ▲ 13.6 ▼ 28.0 ▼ 105.5
10Y KTB 3.10% ▲ 10.5 ▼ 20.5 ▼ 113.9
Term Spread(bp) 14.1 ▼ 3.1 ▲ 7.5 ▼ 8.4
Corp. AA- 3Y 3.55% ▲ 13.1 ▼ 43.4 ▼ 125.0
Credit spread(bp) 58.6 ▼ 0.5 ▼ 15.4 ▼ 19.5

US Treasury Yields

US Treasury Yields Recent DoD (bp) YTD (bp) YoY (bp)
2Y US Treasury 4.00% ▲ 6.5 ▼ 33.5 ▼ 108.5
10Y US Treasury 4.03% ▲ 4.8 ▲ 7.8 ▼ 75.2
Term Spread(bp) 3.3 ▼ 1.7 ▲ 41.3 ▲ 33.3

[Market Trends].

The path of Fed rate cuts remains on track, and we expect to see limited downward movement in Treasury yields for the foreseeable future.

[Top economic news and events].

Top U.S. News

US non-farm payrolls surprised to the upside in September, confirming the stability of the labor market. This sent US Treasury yields higher.
Employment surprises and rising oil prices are raising the possibility of a rate hike in November.

Featured News

The Bank of Korea is expected to keep rates unchanged at its October meeting and cut rates in line with the minority view.
Household debt concerns are growing as household loan balances increased by $5.6 trillion month-on-month.

Other News and Events

Geopolitical risks in the Middle East are driving up oil prices.
Brent crude is surging due to speculation of an Israeli attack on Iranian oil facilities.

[Response Strategy].

Maintain the strategy of reducing Treasury duration and overweighting credit.

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-10-8-2024/

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