Korean linker volumes soar after introduction of deflation floors

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Inflation-linked Korean Treasury bond (KTBi) volumes have hit 592 billion won ($498.8 million) since the Ministry of Strategy and Finance (MOSF) resumed issuance of linkers in June. The volume of issuance aggregated for June and July far exceeds MOSF's target of 150 billion won each month.

The high volumes are attributed to a change in the structure of KTBis, which now include a floor that guarantees investors receive their full principal back should the country experience periods of deflation

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