Trial now

12-month BT


JPY Hampered by Continued Bounce in Stocks


1.25% Aug-48 Bund


Fixed income comes off the highs


Short sterling strip LIfted

Sign up now for free access to this content.

Please enter your details below and select your areas of interest.


  • Fitch says weak monetary policy and the Fed taper leaves indebted firms exposed to FX volatility in Turkey.
    • Says reliance on short-term funding and distribution of debt maturities has not changed in Turkish corporates.
    • 66% are now at or above the country ceiling (BB-) – making the portfolio more sensitive to sovereign rating changes
  • WH Adviser Sullivan says Biden and Erdogan agreed to cooperate on Afghanistan and that US support for this would be forthcoming. Noted, however, that no progress was made on S-400s
  • Russia says Turkey's proposal to keep forces in Afghanistan (Kabul Airport) after the US' withdrawal goes against the 2020 deal to pull out of foreign forces.
    • Notes the deal stipulated full withdrawal of foreign troops by May 1 2021. The Taliban has expressed reluctance over the presence of Turkish troops
  • Turkish, German Defense Ministers hold 'constructive' meeting in Ankara, discussing counter-terrorism.
    • German Defense min said diplomatic missions in Afghanistan were crucial in ensuring security of the Kabul Airport
  • HDP Deputy says gunman that attacked HDP headquarters was trained by pro-AKP bodies (SADAT) in northern Syria and tried to pass him off as a crazy drunkard.
    • Noted the damage could have been far greater had the meeting of HDP execs set for the morning not been delayed