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Buying Momentum in Turkish Rates Stalls as Global Risk Sours

TURKEY
  • Local & USD Rates Unch this morning, having closed on the back foot at the end of yesterday's session amid broad-based risk-off.
  • USD curve gave back some weekly gains, bear steepening +2.9-4.2bp across the curve with the 15Y most offered.
  • Losses in locals were less evenly distributed, primarily concentrated in 5Y yields (+11bp).
  • 5Y CDS moves back towards 400, trading +8.6bp firmer.
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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