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Bond Yields Fall as Oil Slides, 5Y CDS Stabilises Around 550

TURKEY
  • Local & USD rates remain Unch this morning, having maintained their bullish momentum in yesterday’s session.
  • Yields fell -13-16bp in 2-5Y yields as oil prices continued to slide, while USD bond yields drifted -5.2-11.3bp lower with a bull steepening bias holding.
  • W/w the TurKGB curve stands -150-200bp lower across 2-10Y tenors with the 4-10Y section most bid at -200bp.
  • The USD curve continues to diverge, bull steepening -42-54bp in the 2-10Y section of the curve, while 15-30Y yields stand -29-35bp lower w/w.
  • The 5Y CDS has seen reduced volatility this week and is positioned -30bp lower – stabilising around the 550 mark.

MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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