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Industrial Production Rises 2.4% M/M in December

TURKEY
  • Turkey's seasonally and calendar adjusted industrial production rose 2.4% m/m in December versus -1.4% in November, according to the Turkish Statistical Institute. IP rose 1.6% y/y versus a revised +0.1% the month prior.
  • Turkey issued a $3bln 10-year deal with a yield of 7.875% yesterday evening, which the Treasury said was over 3 times subscribed. Initial guidance was in the 8.375% area. The Treasury’s borrowing strategy shows the government’s objective is to borrow around $10bln from international markets this year.
  • There are no more data releases on the docket today. Looking ahead to next week, Unemployment Rate and Current Account data are the highlights.

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