FxWirePro: Daily Commodity Tracker - 21st March, 2022 
The South Korean 10-year Treasury yields break 2 percent for the first time this year on Monday following heavy sell-off in global Treasury market and matching our previous forecast of the same.
The 10-year bond yield, which moves inversely to its price, rose 12 basis points to 2.062 percent (highest in 2016), the yield on 20-year note jumped 10 basis points to 2.135 percent and short-term 3-year bonds yield also climbed 10 basis points to 1.614 percent.
The Korean bonds have been closely following developments in the U.S. debt market. The United States benchmark 10-year Treasury yield bounced 9-1/2 basis points to 2.203 percent for the first time in 2016.
Also, a heavy sell-off in government bonds was supported by rising expectations that the U.S. President-elect Donald Trump's policies, such as fiscal expansion and protectionism on international trade, could support growth and inflation.
Last week, the United States Republican candidate Donald Trump pinned his victory against Democrat opponent Hillary Clinton in the 2016 presidential election. Investors again revised the outlook for US interest rates after Donald Trump's victory, with the probability of a December rate hike by the Federal Reserve going from as low as 30 percent to as high as 84 percent.
Also, the fall in the number of people opting for unemployment benefits in the United States has strengthened the probability of a December interest rate hike by the Federal Reserve.
Moreover, the Bank of Korea left its base rate unchanged for a fifth straight month on Friday, as widely anticipated, amid an upswell of global uncertainty and a political scandal involving President Park Geun-hye that may mean trouble ahead for the economy.
Also, a shock win by Donald Trump in the U.S. presidential election earlier this week poses long-term risks the Bank of Korea (BOK), which it wanted to monitor carefully.
Meanwhile, The Korea Composite Stock Price Index (KOSPI) ended 0.51 percent lower at 1,974.40 points.
