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Local Rates Trade in Line With EM Sentiment Ahead of CBRT

TURKEY
  • Local trade softer at the open, bear flattening 4-6bp at the open with shaky risk sentiment weighing on EM FI somewhat.
  • USD rates also open on the backfoot after gaining some ground last week.
  • Focus on this week's CBRT for Agbal to deliver wider real rates on TRY assets through a 100bp hike to the 1w repo, which should help support domestic rates.
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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