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Risk-Off Hits Local Bonds, 7-10Y Close -20-29bp

TURKEY
  • Local & USD rates unch this morning, having taken a hit yesterday amid broad-based risk-off across EM FI.
  • Local curve felt the brunt of the market's risk aversion, bear steepening +20-29bp in 5Y & 10Y tenors.
  • USD bonds weathered the storm marginally better, trading softer but more symmetrically +7.3-10.7bp with losses concentrated in the 7Y-10Y portion of the curve.
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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