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Bonds Close Friday on The Front Foot, But Trade Weaker W/W

TURKEY
  • Local & USD rates unch this morning, having closed Friday's session mostly on the front foot.
  • Both curves ended bull flatter with locals -10-14bp lower in 7-10Y yields, and USD bonds -2.7-5.6bp lower in 7-15Y yields.
  • W/w, however, local bonds closed +10-12bp higher in the belly, while USD bonds ended +10-15bp higher in the 2Y-10Y portion of the curve.
  • Risk premia rose 18.1bp last week as positive Biden-Erdogan expectations for an 2-400 deal unwound.
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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