South Korea's IRS Rates Fall on July 6 as Liquidity Improves; 1-Year Rate Down 1.25bp to 3.4925%

According to Yonhapinfomax, South Korea's Interest Rate Swap (IRS) rates declined on July 6 as short-term fund market liquidity improved following the end of the quarterly period. The 1-year IRS rate fell 1.25 basis points to 3.4925% as of 4:27 p.m., while 3-year and 5-year rates each declined 0.75bp, and 10-year rates dropped 0.50bp. A bond market participant noted that increased won supply in the market following quarter-end, combined with stabilized short-term dynamics, drove buy-side interest in the short-term IRS segment.
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