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Bull Steepener Gains Traction in Local & USD Rates

TURKEY
  • Local & USD rates unch this morning after closing on the front foot last week.
  • W/w the local curve continued to bull steepen, with short-duration outperforming.
  • 3m-2Y tenors pulled -54-87bp lower last week, while the 5Y-10Y portion of the curve remained more subdued at -24bp.
  • USD curve also bull steepened w/w with gains concentrated in 3Y-10Y tenors (-32-43bp) while 15-25Y drifted 35-27bp lower.
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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