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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
TURKEY
- Local & USD rates trade little changed around the open, having continued to sell-off aggressively in yesterday's fire sale on Turkish assets.
- TurkGB yields rose +101-141bp in 2-7Y yields with the curve maintaining a bear flattening bias as markets anticipate the need for emergency rate hikes to offset TRY weakness.
- Similarly, USD bonds remained under acute selling pressure across the curve with 2-5Y yields rising +46.3-52.4bp as risk aversion went through the roof.
- Turkey's 5Y CDS also soared +42bp to a new YTD high with 500 & 550 the next topside targets with the crisis still far from over.
5Y CDS
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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