2023-05-18 14:55:54
© Archyde.com. [채권] Domestic bond prices closed down due to easing concerns over US debt ceiling agreement
[인포스탁데일리=박상철 기자] On the 18th, domestic bond prices closed lower due to easing concerns over the US debt ceiling agreement.
Last night, while the New York bond market closed down due to the strengthening of risk appetite amid expectations of the US debt ceiling agreement, the domestic bond price also closed the deal with an extended drop after starting down.
President Biden held a press conference last night before departing for Japan to attend the G7 summit, saying, “I am confident that the United States will not default and will be able to agree on the budget.” We agreed that we would not go into default.”
Republican House Speaker McCarthy also said that there would be no tax-related discussions in the debt ceiling negotiations, saying, “President Biden also admitted that yesterday,” and “I don’t think we will default.” As a result, the market’s preference for risky assets recovered, and the selling trend began.
However, the sluggish Australian employment data limited the decline in domestic bond prices. The Australian Bureau of Statistics announced that the unemployment rate stood at 3.7 per cent in April. This is worse than the market expectation of 3.5%. The number of employed persons in April also decreased by 4,300 compared to the previous month, which was significantly worse than the market expectation (an increase of 25,000).
Meanwhile, Capital Economics (CE) said in a report that the Bank of Korea’s aggressive rate hikes over the past 18 months had dealt a direct blow to the real estate market, and predicted that interest rates would be cut in August at the earliest. Nomura Securities also announced that there is a possibility of lowering the benchmark interest rate in August as inflation indicators have recently eased.
3-year and 5-year government bonds recorded 3.316% and 3.293%, up 4.2bp and 5.5bp, respectively, from the previous trading day, and 10-year Treasury bonds recorded 3.367%, up 4.8bp from the previous trading day. The CD (91-day) yield closed at 3.66%, up 1.0bp from the previous trading day.
Reporter Park Sang-cheol [email protected]
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