In the market, the US 10-year interest rate surpassed 1.75%
10-year Korean Treasury Bonds rose 1.2bp
Treasury futures declined in both 3 and 10 years
viewer
Despite the US Federal Reserve’s (Fed) forecast that there will be no standard rate hike until 2023, investors are raising concerns as US bond yields continue to surge toward 2%. However, the interest rate of domestic treasury bonds is stable this morning. In addition, interest is drawn from stock prices as there is an opinion that the market will soon adapt to rising interest rates.
In the KTB market on the 19th, the yield of the 3-year KTB index (20-8) was 1.140% per year, down 5.1bp (1bp=0.01% points) from the last day’s final bid rate. After the FOMC, as the benchmark interest rate is expected to remain low in the short term, the 3-year Treasury Bond has been falling for two days in a row, seeking stability.
However, long-term interest rates continue to rise. The interest rate for the 10-year KTB index (20-9) is 2.160% per year, up 1.2bp from the previous year.
The government bond futures market is on a slight decline. The 3-year government bond futures (KTBF) is recording 110.66, down 10 ticks from the previous day. The 10-year government bond futures (LKTBF) also fell 22 ticks from the battlefield to 124.88. Heo Tae-oh, a researcher at Samsung Futures, said, “It was interpreted that FOMC held the median point of the dot plot to a freeze until 2023, which was a easing position, but in fact, it is causing a gradual tightening.” It does not allow the market interest rate to rise and eventually controls the expected inflation.”
In the US market last night, the FOMC is expected to tolerate a certain level of inflation, and the US 10-year Treasury bond yield surpassed 1.75% during the intraday, reaching the highest level since January last year. The 30-year Treasury bond rate also exceeded 2.5% for the first time since September 2018.
Park Hee-chan, a researcher at Mirae Asset Daewoo, said, “The Fed was not sufficiently’mitigating’, such as the fact that the rate hike opinion of the Fed increased from 5 to 7 in 2023, nearly halved, the immediate rise in interest rates, and no further response to the increase in the US bond supply. “As a result, US bond yields are maintaining an upward trend toward 2% of 10-year bonds,” he said.
Nevertheless, there is an analysis that the market will eventually adapt to rising interest rates. Despite the recent rise in interest rates, the US Dow Index broke the 33,000 line the previous day, setting an all-time high. Researcher Park said, “As seen from the recent solid rise of the Dow Index and the adjustment of the Nasdaq Index, participants in the stock market are responding swiftly to changes in the situation.”
/ Reporter Shin Hanna [email protected]
< 저작권자 ⓒ 서울경제, 무단 전재 및 재배포 금지 >