South Korea's Finance Minister says closely monitoring the bond market and will conduct treasury bond buyback if bond yields rise excessively
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South Korea's Finance Minister says closely monitoring the bond market and will conduct treasury bond buyback if bond yields rise excessively Japanese Finance Minister Katayama says exchanged views on FX trends with US Treasury Secretary Bessent on Friday and agreed to bolster cooperation, adds we believe the undervalued yen, in general, is problematic Taiwan says it is in continuous talks with the US regarding arms sales The transmission is through the supply outlook: a treasury buyback reduces net duration supply and signals an official tolerance band on yields, which tends to flatten the back end relative to the front even before any cash operation takes place. The relevant distinction is between yield level and yield volatility, since ministries have typically acted on speed and disorder rather than on a fixed level, and on the fiscal optics, since buybacks are funded and signal debt management flexibility rather than monetary easing. Form at this ministry has been to pair such comments with issuance calendar adjustments, so the follow-ons are the next monthly issuance plan and any concrete buyback size and maturity bucket. Comments alone, absent an operation, have tended to produce a short-lived bid in the long end that fades if the underlying driver, typically US Treasury correlation or fiscal supply concerns, persists.
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