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Front End Divergence Continue in Turkish Rates Markets

TURKEY
  • Local & USD rates Unch this morning, having closed somewhat mixed in yesterday's session.
  • Local & USD rates diverged at the front end of their respective curves:
  • locals bear flattening and USDs bull steepening.
  • W/w the local curve is +15-20bp higher in 3m-1Y tenors, -6-10bp lower in the belly (2Y-5Y) and flat at the back end.
  • W/w the USD curve has bull steepened with short duration (1-2Y) leading the move -25-40bp lower.
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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