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Local Rates Close the Week Higher, TRY Sentiment Weak

TURKEY
  • Local & USD rates Unch this morning, having eked out some gains in yesterday's session despite TRY weakness.
  • Local curve dipped -5bp lower in the belly to close marginally in the green, while USD bonds bull steepened -4.4-5.3bp.
  • W/w the local curve trades +10-15bp higher across the breadth.
  • USD bonds remain bull steeper with gains concentrated in 1-4Y yields.
  • 5Y CDS remains pegged above the 400 handle this week, with markets reticent to hold onto any moves below the level.
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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