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Local & USD Curves Steepen Ahead of CPI, PMIs Slide to 50.5

TURKEY
  • Local & USD rates closed yesterday’s session broadly mixed following weekend policy tweaks and official replacements at key institutions from the government.
  • The TurkGB curve steepened at both ends with 2Y yields dipping -64bp, while 10Y yields rose +19bp.
  • Meanwhile, USD bonds saw marginal bull steepening pressures with the 2Y -3.2bp lower while the remainder of the curve held a fraction below the open.
  • Markit PMI data printed lower this morning at 50.5 - coming off the back of two consecutive increases in Nov & Dec.
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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