South Korea 5-year T-bond yield sets near 7-year closing low

SEOUL: South Korean government bond prices jumped on Wednesday, with the benchmark 5-year yield setting its lowest close in nearly seven years, as renewed fears about the euro zone's debt crisis boosted safe-haven bids for bonds.

The 5-year treasury bond yield shed 5 basis points to 3.40 percent, its lowest closing rate since the end of 2004. The 1- and 3-year yields both ended at 3.31 percent, falling 4 basis points and 5 basis points, respectively.

Copyright Reuters, 2011