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Bond Yields Rise as Risk-Off Weighs, CDS Bounces Off June Lows

TURKEY
  • Local & USD rates Unch this morning, having sold off sharply in yesterday's broadly risk-off session.
  • Local bonds were most offered, bear flattening with 2Y yields rising +17bp while the remainder of the curve lifted +6bp.
  • Similarly, USD bonds also bear flattened with the 2-5Y section of the curve moving +5.7-7.7bp Higher with 2Y yields leading the way.
  • Turkey's 5Y CDS also notched up +9.36bp after failing to take out the June 25 lows around 380 support.
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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