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Bull Flattening Momentum Stalls in TurkGBs Pre-CBRT

TURKEY
  • Local & USD rates trade little changed around the open, having remained mostly muted in yesterday’s mixed risk session.
  • The TurkGB curve closed 0-7bp higher across the breadth, while USD bonds yields fell 0-3bp ahead of today’s CBRT.
  • W/w, bull flattening gains have slowed and the curve stands +14-30bp bear flatter in 3m-3Y tenors, while the rest of the curve treads water.
  • The 5Y CDS also trades +12bp above Friday’s close – just shy of the 525 level.

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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