FED'S WALLER: IT'S CRAZY GIVEN RECENT DATA TO BE TALKING ABOUT RATE CUTS IN NEAR FUTURE

South Korea plans to reduce issuance of mainly longer-dated government bonds in June as part of efforts to stabilize the debt market, Deputy Finance Minister for Treasury Hwang Soon Kwan said. Specific maturities have not yet been finalized and will depend on market conditions. The government announced the planned cut on Thursday without detailing affected tenors. South Korea’s 10-year bond yield fell 2 basis points to 4.15% on Friday after reaching its highest level since late 2023 earlier this week. Hwang said no decision has been made on July issuance or broader changes to the annual borrowing plan. The move comes as a global semiconductor boom boosts economic growth and inflation pressures, with markets expecting a more hawkish tone from the Bank of Korea next week.

CFTC-COMEX COPPER SPECULATORS RAISE NET LONG POSITION BY 1,476 CONTRACTS TO 74,999 IN WEEK TO MAY 19