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South Korea's 3-Year Government Bond Yield Surges 5.6bp to 3.908% on July 20 Amid Oil Price Rally

GateNews
CommoditiesForex
According to Yonhap Infomax, South Korea's government bond yields surged on July 20 morning. The 3-year benchmark yield rose 5.6 basis points to 3.908%, the 10-year yield climbed 4.0bp to 4.340%, and the 30-year yield increased 4.6bp to 4.522%. The gains were driven by escalating U.S.-Iran tensions pushing crude oil prices higher—WTI crude for August delivery jumped 2.49% to $84.54 per barrel—and intensifying expectations that South Korea's central bank may raise its base rate again in August.
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