Korea Bond Market Daily Report(Gemini): 2/10/2025
Korea Bond Market Daily Report
Treasury yields
| Treasury yields | Recent | DoD (bp) | YTD (bp) | YoY (bp) |
|---|---|---|---|---|
| 3Y KTB | 2.63% | ▲ 5.3 | ▲ 12.8 | ▼ 65.1 |
| 10Y KTB | 2.84% | ▲ 4.0 | ▲ 8.7 | ▼ 54.2 |
| Term Spread(bp) | 20.1 | ▼ 1.3 | ▼ 4.1 | ▲ 10.9 |
| Corp. AA- 3Y | 3.24% | ▲ 4.6 | ▲ 4.5 | ▼ 77.7 |
| Credit spread(bp) | 60.7 | ▼ 0.7 | ▼ 8.3 | ▼ 12.6 |
US Treasury Yields
| US Treasury Yields | Recent | DoD (bp) | YTD (bp) | YoY (bp) |
|---|---|---|---|---|
| 2Y US Treasury | 4.29% | ▲ 8.1 | ▲ 4.1 | ▼ 18.9 |
| 10Y US Treasury | 4.50% | ▲ 4.5 | ▼ 7.5 | ▲ 32.5 |
| Term Spread(bp) | 20.4 | ▼ 3.6 | ▼ 11.6 | ▲ 51.4 |
[Market Trends].
US Treasury rates rose after the release of the US January employment report. Higher average hourly earnings and higher expected inflation in Michigan were the main drivers.
Treasury yields rose on a hawkish interpretation of the previous day's comments by the Governor of the Bank of Korea and nervousness ahead of the release of the US jobs report.
[Top economic news and events].
Top U.S. News
US January employment report released: Nonfarm payrolls growth missed expectations, but the unemployment rate was below expectations and average hourly earnings beat expectations.
Former President Trump's plan to impose 25% steel and aluminum tariffs (Bloomberg reports)
Featured News
January import and export prices and January unemployment rate released (Bank of Korea)
Bid results for 3-year, 50-year, and 30-year Treasuries
Other News and Events
Former President Trump's reciprocal tariff announcement foreshadowed
Key economic data release schedule: US January CPI, PPI, Retail Sales, Industrial Production, and more
[Response Strategy].
You should closely monitor interest rates and economic indicators in the U.S. and South Korea to formulate a quick response strategy to market changes, and employ an appropriate asset allocation strategy to enhance the stability and profitability of your investment portfolio. In particular, you should be vigilant in managing investment risks, especially in light of changes in U.S. tariff policies and possible interest rate hikes. In volatile market conditions, it is preferable to prioritize stable portfolio management over active investment strategies.
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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