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Risk Premia Claw Back a Portion of Last Week's Gains

TURKEY
  • Local & USD rates unch this morning, having traded mixed in yesterday's session ahead of the Biden-Erodgan meeting.
  • Locals firmed slightly across the curve, while USD bonds tracked the broader EM weakening trend – selling off +4.1-8.4bp with losses concentrated in the belly (5-7Y tenors).
  • Risk premia gave pack a portion of last week's gains (+5.1bp) after no resolution was reached on S-400s, but did not see a substantial unwind.


5Y CDS Retraces +5.1bp of Pre-Meeting Optimism

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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