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Local Curve Continues to Bear Steepen as Turkey's Outlook Dims

TURKEY
  • Local & USD rates unch so far this morning after closing on the back foot in Friday's session.
  • W/w the local curve shifted higher across the breadth, bear steepening 45-60bp in the 7-10Y portion of the curve as a deteriorating local scene dented sentiment.
  • USD bonds were somewhat less offered, lifting 30-40bp in the belly-middle (3Y-10Y), while the back end traded 25bp higher.
  • Risk premia also ticked +6.92% higher, while peers SA & Russia saw +2.5% and -5.70% respectively.
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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