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Needle Still Points South


Yields Bounce as Equities Make New Monthly Highs


Heading North


Bull Rally Accelerates


Economists Survey Raises 2021 CPI Forecast To 4.9%



  • FM Cavusoglu to meet with French counterpart in 2-day visit starting today. Bi-lateral relations with France and the EU will be discussed and views on current issues.
    • Both countries remain at odds over Syria and Libya and treatment of Frances Islamic minority
  • Greece warns Turkey is will seek EU support for sanctions against it if it continues "hostile" and "provocative threats" following Erdogan's defence of the opening of the Hagia Sophia as a mosque – deeply upsetting the Greek orthodox community
  • Erodgan says Turkey discovered 135bn cubic meters of natural gas in the Black Sea, raising the total discovery to 540bn cubic m.
    • Ankara aims to deliver gas from the Sakayara field to its main grid in 2023 with sustained plateau production by 2027/8.
    • A 160km pipeline will be required to be built in the near-term
  • Independent research group (ENAG) reports inflation at 3.94% m/m vs TUIK's 0.89%.
    • ENAG warns FX pressure, an import-heavy production process & weak CBRT reserve formation will be the biggest drivers of inflation in the upcoming period
  • CHP calls for investigative commission over Mafia boss Sedat Peker's claims against interior minister Soylu, including: organised crime, drug & weapons trafficking and evading arrest warrants
  • ECHR says on Saturday that Turkey must comply with judgements of the court, including the release of Selahattin Demirtas and Osman Kavala.
    • European Council meeting 7-9 June is set to review the Turkish Govt's failure to implement ECHR judgements
MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |