South Korea's IRS Rates Rise Across All Maturities on July 24, Up 3-5.5 Basis Points

According to Yonhap Infomax, on July 24, South Korea's interest rate swap (IRS) rates rose across all maturities. The 1-year IRS rate climbed 3 basis points to 3.5075%, the 5-year rate increased 5.5 basis points to 4.1475%, and the 10-year rate rose 4.5 basis points to 4.2625%. Dealers attributed the gains to market pricing expectations of a consecutive rate hike in August following the July monetary policy committee decision and second-quarter GDP data.
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