Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
TURKEY
- Turkish rates continue to slide in today's session alongside the rest of the EM complex as risk sentiment sours.
- TurkGBs continue to underperform USD bonds, retaining their bear steepening bias: 5Y +11bp, 10Y +11bp. Meanwhile, USD bonds trade +7-9.5bp higher across the breadth of the curve with 3-7Y tenors most offered at +9-9.5bp.
- Weakness mostly reflects continued bearish sentiment post-CBRT, alongside higher UST yields. Turkey's 5Y CDS stands +10.77bp higher on the day.
- TRY is the top performing currency vs the USD in the CEMEA region (+0.4%) as selling momentum peters out and traders take some profits around 8.90. Supports stand at 8.8017 & 8.7484. Some talk of US CAATSA sanctions is something to monitor this week on top of monetary policy woes.
- XU 100 trades +0.12% higher, having fallen -2.45% last week and -5.62% since the start of September. The Index established a weekly low at 1,380 after failing to break through the 100 & 50dmas at 1,420. Support from the bull channel LT comes in around 1,365 followed by the July lows at 1,340.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok