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Curves Bear Steepen W/W as Sentiment Sours

TURKEY
  • Local & USD rates unch this morning, having closed the week broadly on the back foot as investor sentiment towards Turkish assets soured. 7Y local bonds were most affected, ending +21bp on Friday with the remainder of the curve slightly higher.
  • USD bonds traded slightly in the red in a marginal bear flattening.
  • W/w both local & USD curves finished bear steeper.
  • A Goldilocks US NFP report helped the 5Y CDS dip -6.1bp on Friday, pulling away from 410.


Local curve Change W/w

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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