Mar 5, 2026 - Mar 6, 2026, the price of '<1.5%' crashed from 41.7c to 21.1c, while '2.4% to 2.6%' spiked from 22c to 43c. The reason is a severe dislocation in market liquidity, causing prices to detach from fundamentals. This volatility was not driven by new inflation data but by a breakdown in market microstructure (e.g., market maker withdrawal or algo errors), pushing the sum of implied probabilities above 250%.
Mar 3, 2026 - Mar 5, 2026, the price of '2.1% to 2.3%' collapsed from 42.5c to 16c. This reflects an inexplicable loss of confidence in the central bank's ability to land inflation within the target band, with capital fleeing to extreme outliers.
Feb 9, 2026 - Feb 10, 2026, the price of '1.8% to 2.0%' plunged from 42c to 31.5c. The reason was a structural upward shift in inflation expectations, as investors feared imported inflation due to a weakening Won.