South Korea: South Korea's top financial officials convened a meeting Friday to assess the potential impact of rising U.S. and Japanese government bond yields on the domestic financial and foreign exchange markets, the finance ministry said.
According to Yonhap News Agency, the meeting was chaired by acting Finance Minister Kim Beom-suk and included the participation of Bank of Korea Governor Rhee Chang-yong, Financial Services Commission Chairman Kim Joo-hyun, and Financial Supervisory Service Governor Lee Bok-hyun. The Ministry of Economy and Finance facilitated the gathering.
The meeting took place amid increased global market volatility, partially caused by a significant rise in long-term bond yields. On Wednesday, the yield on 30-year U.S. Treasury bonds rose 12.3 basis points to 5.092 percent, marking its highest closing level since October 2023. Similarly, yields on Japan's 30-year and 40-year government bonds reached multi-year highs earlier this week.
The authorities emphasized that they will maintain vigilance and take timely actions to ensure market stability.