Risk and sentiment
Korea Treasury 1Y
The one-year Korea Treasury yield, the short-end maturity that prices Bank of Korea policy expectations most directly. Its gap to the policy rate shows how much easing or tightening the market has already priced in.
At a glance
Korea Treasury 1Y: latest value and prior change
As of 2026-09-07, Korea Treasury 1Y is 3.48 %. It is 0.01 pp higher than 3.47 % on 2026-09-04.
Within the default comparison window of 1,000 observations from 2022-08-09 to 2026-09-07, the latest value is at the tie-adjusted 75th percentile. Available history covers 2000-02-01 to 2026-09-07 with 6,584 observations.
- Observed on
- Default comparison window
- 2022-08-09–2026-09-07
- Observations · observed cadence
- 1,000 · Daily
- Data source
- Bank of Korea ECOS
A high or low percentile does not by itself make the indicator positive, negative, or a buy or sell signal.
Time-series chart
Korea Treasury 1Y
2000-02-01–2026-09-07
Long-history series are stored as real provider observations. Index, FX, VIX, and ratio charts use historical backfill where providers expose it; Korean investor flow and margin-credit feeds expand as stable historical endpoints become available.
Recent observations and calculated changes
The ten latest chart observations. Change subtracts the previous observation; intervals vary with holidays, release schedules and missing data. A difference in rates or ratios is not an investment return.
| Observed | Value | Previous date | Difference (current − previous) |
|---|---|---|---|
| 2026-09-07 | 3.48 % | 2026-09-04 | 0.01 %p |
| 2026-09-04 | 3.47 % | 2026-09-03 | 0.01 %p |
| 2026-09-03 | 3.46 % | 2026-09-02 | -0.02 %p |
| 2026-09-02 | 3.48 % | 2026-09-01 | 0.02 %p |
| 2026-09-01 | 3.46 % | 2026-08-31 | 0.02 %p |
| 2026-08-31 | 3.44 % | 2026-08-28 | 0.02 %p |
| 2026-08-28 | 3.42 % | 2026-08-27 | 0.02 %p |
| 2026-08-27 | 3.40 % | 2026-08-26 | -0.01 %p |
| 2026-08-26 | 3.41 % | 2026-08-25 | 0.00 %p |
| 2026-08-25 | 3.41 % | 2026-08-24 | 0.00 %p |
Source: Bank of Korea ECOS
Interpretation guide
The 1-year KTB yield: the front line of policy expectations
The 1-year Korea Treasury yield is the shortest point on the government bond curve, and it prices the market's bets on Bank of Korea moves over the coming year more directly than any other maturity. Where the 3-year blends two to three years of policy path into one number, the 1-year is a price aimed squarely at the next few Monetary Policy Board meetings.
The gap to the base rate is the message
With only a year to maturity, long-run growth and inflation views barely enter this yield. It is essentially the base rate plus twelve months of expected changes, so reading the gap between the two is reading the market's policy forecast.
- The 1-year sitting clearly below the base rate means the market treats a cut within a year as settled.
- A gap of roughly 25bp corresponds to about one priced-in rate move.
- The 1-year's drift ahead of each BOK meeting sets the baseline for judging surprises on decision day.
Between the 1-year and the 3-year: the curve's front end
The spread between the 1-year and the 3-year shapes the very front of the yield curve. Slope changes in this short segment often reveal policy-cycle turns before longer maturities do.
- The 1-year above the 3-year is a front-end inversion that prices an imminent cutting cycle.
- Once cuts actually begin, the 1-year typically falls first and the inversion unwinds.
- Line it up with TapeFlow's 3-year and 5-year to see how far cut expectations have spread along the curve.
Side by side with CD and CP rates
Comparing it with similar short-tenor CD 91-day and CP 91-day rates gauges how much credit risk is being added on top. As the near-risk-free reference, how far other short rates float above the 1-year works as a thermometer for the money market.
- Unusually wide CD and CP gaps over the 1-year warrant a check for money-market stress.
- A falling 1-year with sticky CP rates means policy hopes and credit caution are diverging.
- Small gaps versus similar-maturity monetary stabilization bonds are usually supply-demand noise — do not overread them.