South Korea's government bonds rallied on Monday, pushing the yield of the three-year treasury bonds to a fresh record low on the back of growing expectations that the Bank of Korea (BOK) would make another rate cut in the coming months to support growth.
The yield on the benchmark three-year Treasurys stood at a fresh record low of 2.350 percent in the morning session, down 2 basis points from the previous session's close. The yield on five-year Treasurys also fell 2.8 basis points to a fresh yearly low of 2.609 percent.