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(LEAD) S. Korea vows steps to stabilize bond market over growing volatility

17:04 September 23, 2022

(ATTN: UPDATES 3rd para; REPLACES photo)

SEOUL, Sept. 23 (Yonhap) -- South Korea plans to take measures to stabilize the bond market if necessary as market volatility has grown over the U.S.' recent rate hikes, a senior finance ministry official said Friday.

On Thursday, the yield on three-year Treasuries rose 25.7 basis points to 4.104 percent, the highest level in more than 12 years, after the Federal Reserve raised its target interest rate by 75 basis points for a third straight time.

It rose 9.4 basis points further to 4.199 percent Friday.

"The government is closely monitoring the bond market, and it will carry out market stabilization measures, if needed," First Vice Finance Minister Bang Ki-sun said during an emergency economy task force meeting.

Electronic signboards at a Hana Bank dealing room in Seoul show the benchmark Korea Composite Stock Price Index having fallen 1.81 percent to close at 2,290.0 points on Sept. 23, 2022. (Yonhap)

graceoh@yna.co.kr
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