3-Year Korean Treasury Bond Yield at 2.931%... Declines Amid US Economic Recession Concerns

As concerns over a U.S. economic recession emerged, government bond yields fell across the board.

On the 4th in the Seoul bond market, the 3-year government bond yield closed at an annual rate of 2.931%, down 5.0 basis points (1bp = 0.01 percentage points) from the previous trading day.

The 10-year yield fell 6.8bp to 3.052% per annum. The 5-year and 2-year yields dropped 5.5bp and 4.9bp, closing at 2.996% and 3.039% per annum, respectively.

The 20-year yield decreased 4.7bp to 3.086% per annum. The 30-year and 50-year yields fell 4.2bp and 4.3bp, recording 2.973% and 2.883% per annum, respectively.

On this day, government bond yields declined due to the impact of concerns over a U.S. economic recession. The previous day, the U.S. Institute for Supply Management (ISM) announced that the August Manufacturing Purchasing Managers' Index (PMI) recorded 47.2, below the market expectation of 47.5. This is analyzed as investors flocking to bonds, which are considered safe assets.