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Curves Bull Flatten & Risk Premia Compress as US Treasury Yields Push Lower

TURKEY
  • Local & USD rates unch this morning, having gained for a second consecutive session on the back of declining US Treasury yields.
  • Local curve closed play -10-14bp bull flatter yesterday with the 10y dipping below 17.80.
  • USD bonds continued to outperform locals, however, gaining -9.8-16.3bp across the breadth of the curve with gains concentrated in 10 & 15Y tenors.
  • Risk premia continue to compress with the 5Y CDS dipping -10.883bp, trading at 382.962.


Turkey 5Y CDS

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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