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Local Bonds Positioned Bull Steeper in Short Duration W/W

TURKEY
  • Local & USD rates remain unchanged this morning, having traded mixed to softer in yesterday's session.
  • Local bonds were most offered with 3 & 10Y yields rising +10bp & +6bp respectively, while the remainder of the curve lifted +1-2bp.
  • Muted trading resumed in USD bonds, which closed play less than 1bp below the open.
  • W/w the local curve stands bull steeper with 3-6m yields -40-46bp lower, while 9-10Y yields hold +27bp higher.
  • Turkey's 5Y CDS rose +5.69bp towards 390, while the XU100 hovers above 1,350 support.
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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