South Korean Government Bond Yields Rise on July 6, 3-Year Notes Up 2.8bp to 3.776%

According to Yonhap Infomax, South Korean government bond yields rose on July 6, with the 3-year note climbing 2.8 basis points to 3.776%, the 10-year yield gaining 0.6bp to 4.203%, and the 30-year rate increasing 3.2bp to 4.400%. The gains were primarily driven by strength in the US dollar against the won and a surge in Japanese long-term bond yields, which hit their highest level since October 1996. Market participants noted that the weakness in Korean bonds reflected broader regional pressure as Japan's 10-year government bond yield briefly reached 2.82%, marking a roughly 30-year high.
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