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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
- Selling pressure on TRY remains elevated ahead of the June 23 meeting, with the CBRT still expected to keep 1W repo rate steady at 14%.
- TRY is one of the weakest performing currencies among the EM world this month, with the lira down over 5% against the US Dollar.
- We previously saw that the current geopolitical uncertainty combined with dovish CBRT stance and the deep negative real yields have been weighing on the lira in the past few months.
- With an inflation rate of over 70% in May, Turkey currently offers a 10Y real yield of -54.5%.
- GS recently estimated that inflation could peak at 80% in the near term before starting to ‘decelerate’.
Source: Bloomberg/MNI
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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