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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
- Local rates trade mixed around the open, having sold-off aggressively following yesterday's CBRT meeting in response to a 100bp cut and guidance towards another potential 100bp cut in December.
- TurkGBs moved +31-52bp higher on the day with 2 & 5Y yields most offered at +52bp. USD bonds also hemorrhaged, rising +17-31bp with the front end bear flattening (2Y +31bp).
- W/w we close with a notably bear steeper TurkGB curve with 7-10Y yields up +72-74bp as sentiment continues to deteriorate alongside CBRT credibility.
- Turkey's 5Y CDS has risen +42bp since Monday, now hovering around the 450 mark.
TurkGB curve w/w
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.
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