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CEEMEA Rates Snapshot: Mostly in the Green - Turkey Outperforming

EMERGING MARKETS
  • Overall, rates doing well on improved global risk sentiment - despite a short bump around the J&J news. Turkey the key outperformer, SA & Hungary the laggards
  • TURKEY: USD curve bid across all major tenors -6.3 to -9.4bp, belly outperforming. Locals mixed to slightly lower.
  • SA: Mixed to lower with the front end lifting +5.2bp to trade above 4.60. 10Y flat to lower and back end slightly higher around +2bp.
  • RUSSIA: Moderately lower across the local & USD curves with gains concentrated in 2Y & 5Y locals.
  • POLAND: local curve slightly lower less than 1bp, so not much to write home about .
  • HUNGARY: The serial underperformer, 4-6.1bp higher across the breadth of the curve.
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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