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Rates Under Pressure as Curves Continue to Steepen

TURKEY
  • Local & USD rates unch so far this morning, having continued to weaken in yesterday's session.
  • Local remain most offered with the curve pivoting +16bp higher from the 7-10Y section, while the front end lifted +4-8bp.
  • W/w the local curve has steepened from both ends.
  • USD bonds also retained their bearish bias, bear flattening from the front end +6.8bp.
  • W/w the USD curve has also steepened, but primarily in 1-3Y tenors.
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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