The US 10-year crossed 5%. Intraday 5.045%, closing around 5.01–5.02% — the highest in 19 years, since July 2007, and above the October 2023 peak. 🔴 Korean government bond yields jumped the same day. The 3-year hit 4.091% (+6.6bp), its highest since October 2023; the 10-year hit 4.600% (+6.4bp), its highest since October 2022. The…
Two of yesterday's three extremes reversed. The 10-year hit 5.01% and closed at 4.99%; Brent gave back more than $3 from its intraday high to settle at $105.68. The market absorbed both. Semiconductors did not reverse. SOX closed 11,131.3 (−5.86%, −692.7 points), now −24.0% from its June 22 peak of 14,655 and 593 points below…
At 3:30 p.m. Seoul time on Friday, the KOSPI closed at 6,909.91. It had lost the 7,000 line. Samsung Electronics fell 3.35% and SK Hynix 2.21%. What got sold was semiconductors. Nine hours later, in New York, the Philadelphia Semiconductor Index rose 1.81% — the best-performing major US index of the day. Seoul sold the…
The headline out of New York last night was "Dow drops 628 points." Oil pushed toward $100, Saudi refining capacity was hit in a drone and missile attack, and Canada's retaliatory tariffs on US goods took effect. Read the headlines alone and it looks like an unbroken run of bad news. And yet, on that…
The KOSPI starts today at 6,995.39, making its third run at 7,000. The first two were August 14 (intraday 7,010.86 → close 6,977.94) and August 18 (intraday 7,216.62 → close 6,869.83). Neither held. US stocks and Treasuries were both closed overnight. Even equity index futures halted early, at 13:00 ET. Korea trades this session without…
All three major US indexes gained more than 1%. S&P 500 7,747.71 (+1.06%), Nasdaq Composite 26,584.06 (+1.40%), Dow 53,686.11 (+1.18%). For the Dow and the S&P, it was the best session since August 4. The driver was a Fed governor, not the data. After Waller signaled he could vote to hold in September, CME FedWatch…
Korea fell 4%. KOSPI closed at 6,562.72 (−273.08, −3.99%), KOSDAQ at 803.98 (−17.27, −2.10%). Foreigners sold a net ₩1.92 trillion and institutions ₩2.04 trillion — about ₩4 trillion combined. Selling concentrated in semiconductors, autos and battery makers. The US rose the same day. The S&P 500 closed at 7,666.68 (+0.46%), the Nasdaq Composite at 26,217.83…
Korea's KOSPI fell as much as 3.55% intraday on the last trading day of August, touching 6,547.76, and then closed at 6,820.02, up 0.46%. Two shocks were stacked against it. At Jackson Hole on August 28, Federal Reserve Chair Kevin Warsh said inflation is running above the 2% target and that prices should be the…