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Monday September 17, 9:11 AMS.Korea bonds mixed ahead of 10-yr bond auctionSEOUL, Sept 17 (Reuters) - South Korean government bond prices were mixed on Monday, ahead of treasury bond buyback plans on Tuesday, while investors remained largely speculative before the session's 10-year treasury bond auction results.By 0035 GMT, the yield on the benchmark five-year treasury bonds was up one basis point to 5.40 percent while the highly liquid three-year treasury yield fell two basis points to 5.35 percent. "The mainstream three-year bond prices started strong in favour of the treasury bond buyback plans on Tuesday, but trading is slow ahead of various factors such as the Federal Reserve's monthly rate meeting and 10-year treasury bond auctions," said a dealer at Hyundai Securities. U.S. Treasuries were flat on Friday after mixed economic data did little to change expectations of a Federal Reserve interest rate cut, but the data could reduce the chances of half a percentage point cut in the fed funds rate target at the central bank's policy meeting on Tuesday. A 25 basis point reduction, now anticipated by the market, would be the first monetary easing in four years. The South Korean Finance Ministry is expected to sell 774 billion won ($834 million) worth of 10-year treasury bonds, with results due at 11:30 a.m. (0230 GMT), and is also planning to buy 1.2 trillion won worth of treasury bonds from the secondary market on Tuesday. The central bank is also to announce monetary stabilisation bond auction plans after the market close. September treasury bond futures rose three ticks to 107.13, while the Seoul stock market's benchmark KOSPI firmed 0.18 percent. ($1=928.0 Won) |
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