South Korean Government Bond Yields Surge on July 22, 10-Year Rate Hits 4.394% as Oil Prices Rise Amid U.S.-Iran Tensions

According to Yonhapinfomax, South Korean government bond yields surged on July 22, with the 3-year yield rising 4.6 basis points to 3.913%, the 10-year yield up 6.6 basis points to 4.394%, and the 30-year yield climbing 7.1 basis points to a record high of 4.635%.

The spike follows a sharp increase in international crude oil prices driven by escalating U.S.-Iran tensions. Brent crude futures for September delivery rose $1.79 (2.01%) to $91.01 per barrel overnight, marking the first time the contract closed above $90 since July 11.