South Korea's 3-Year Government Bond Yield Hits 3.809% on Middle East Tensions

According to Seoul's bond market data on July 8, South Korea's 3-year government bond yield rose to 3.809%, while the 10-year yield climbed to 4.258%, driven by overnight Middle East geopolitical tensions. The spike followed reports of tanker attacks in the Strait of Hormuz and the U.S. Treasury's announcement to revoke sanctions exemptions on Iranian crude oil. U.S. Treasury yields surged sharply overnight, with 2-year yields up 7.5 basis points and 10-year yields up 8.2 basis points, prompting South Korean debt markets to follow suit.
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