On the 12th, Treasury bond yields generally fell amid forecasts that the U.S. economic slowdown could be steeper than expected.
In the Seoul bond market that day, the 3-year Treasury bond yield closed at an annual rate of 2.946%, up 0.5bp (1bp = 0.01 percentage points) from the previous trading day.
Meanwhile, the 10-year yield fell 1.2bp to 3.000% per annum. The 5-year and 2-year yields closed at 2.954% and 3.034% per annum, down 0.4bp and unchanged, respectively.
The 20-year yield dropped 1.3bp to 2.990% per annum. The 30-year and 50-year yields each declined by 1.1bp, recording 2.900% and 2.848% per annum, respectively.
On that day, Treasury bond yields fluctuated within about 1bp without a clear directional trend.
Although recession fears that spread in the market early last week have subsided, concerns remain that the economy could slow rapidly.
Jo Yong-gu, a researcher at Shin Young Securities, said, "The consecutive increase in U.S. unemployment insurance claims is not at a reassuring level," adding, "With inflationary pressures easing and the economy approaching a soft landing, the Federal Reserve may act swiftly in response to worsening employment data beyond expectations."
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