Government Bond Yields Fall Despite 'Biden Resignation' Turmoil... 3-Year Note at 3.071%

On the 22nd, government bond yields all fell, closing stronger.

In the Seoul bond market that day, the 3-year government bond yield closed at 3.071% per annum, down 0.3bp (1bp=0.01 percentage points) from the previous trading day.

The 10-year yield fell 1.1bp to 3.145% per annum. The 5-year and 2-year yields dropped 0.8bp and 1.8bp respectively, closing at 3.091% and 3.126% per annum.

The 20-year yield declined 1.2bp to 3.099% per annum. The 30-year and 50-year yields each fell 1.0bp, recording 3.016% and 2.964% per annum respectively.

Market participants' attention was focused on the impact of President Biden's withdrawal from the presidential race on the market, but many believed the effect would not be significant.

On the day, foreign investors net bought 5,446 contracts of 3-year government bond futures and net sold 1,815 contracts of 10-year government bond futures.