Government Bond Yields Decline: 3-Year Down 1.8bp, 10-Year Down 4.1bp

On the 24th, government bond yields fell, particularly for long-term bonds. The yield on the 3-year government bond closed at 3.836%, down 1.8 basis points from the previous trading day, while the 10-year bond yield recorded a decrease of 4.1 basis points, closing at 4.335%. The 30-year bond yield fell by 2.6 basis points to 4.677%, and the 20-year bond yield decreased by 4.3 basis points to 4.621%. The 91-day monetary stabilization bond rose by 11.1 basis points to 2.923%. In the government bond futures market, foreign buying increased downward pressure on yields, with the 3-year government bond futures rising by 9 ticks to close at 103.22, and the 10-year futures increasing by 39 ticks to 105.50. Foreign investors net bought over 13,000 contracts of 3-year government bond futures and over 3,600 contracts of 10-year futures. The domestic bond market started weakly due to the decline in U.S. Treasury yields and rising international oil prices, but later widened the decline in yields as international oil prices fell and U.S. Treasury yields decreased. In the 5-year government bond auction, the winning yield was formed at around 4.095% to 4.135%, with a total bid amount of 15 trillion won. Long-term bonds continued to show strength on this day, and the Bank of Korea's Monetary Policy Committee is scheduled to hold a monetary policy direction meeting on the 27th.

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