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CEEMEA On the Move: TRY Deviates from Broad selling in EMFX & Bonds

EMERGING MARKETS
  • 1m implied volatility ticking higher across the region (most pronounced in Russia)
  • bonds selling off with the exception of Polish yields, which are lower across the curve
  • Turkey USD curve bear flattening from the front end (2y +15.5bp),
  • USD/TRY deviating from broad uptrend as markets focus on local factors (CBRT)
  • SA Bear flattening at the long end on an unwind in one-way positioning in duration (15Y +21.9bp, 30Y +16.1bp)
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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