South Korea's 3-Year Treasury Yields Rise to 3.918% on July 23 as GDP Beats Forecast

According to Yonhapinfomax, on July 23, South Korea's government bond yields edged higher as markets processed stronger-than-expected economic data. The three-year benchmark yield rose 0.3 basis points to 3.918%, while the 10-year yield climbed 0.3bp to 4.388%.

The Bank of Korea announced second-quarter real GDP growth of 0.6% quarter-over-quarter and 3.7% year-over-year, exceeding market expectations of 0.37%. Despite the positive surprise, bond traders remained cautious, citing the central bank's potential for consecutive rate hikes and rising global yields, including pressure from higher international oil prices. The won strengthened to 1,468.30 per dollar, gaining 11.80 won from the previous close.