Choo Kyung-ho's Remarks on 'Issuance Reduction' Lead to Uniform Decline in Government Bond Yields
3-Year Bond Closes at 4.221% Annual Rate... Down 8.4bp from Previous Day
Deputy Prime Minister and Minister of Economy and Finance Choo Kyung-ho announced a significant reduction in the issuance volume of government bonds within the year, leading to a simultaneous decline in government bond yields on the 25th.
On that day in the Seoul bond market, the yield on 3-year government bonds closed at 4.221% per annum, down 8.4 basis points (1bp = 0.01 percentage points) from the previous trading day. The 10-year bond yield fell 15.7bp to 4.346% per annum. The 5-year and 2-year yields dropped 10.8bp and 7.8bp, closing at 4.383% and 4.246%, respectively.
The 20-year bond yield decreased by 17.8bp, while the 30-year and 50-year yields each fell by 15.2bp. This was influenced by Deputy Prime Minister Choo’s statement on significantly reducing the government bond issuance volume for this year compared to the original target.
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The planned issuance volume of government bonds for this year is KRW 177.3 trillion based on the supplementary budget, and the cumulative issuance volume up to last month has reached 81.3% of the annual issuance limit.
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