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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
- Turkey is among those notably vulnerable in the EM space to a further escalation in the Ukraine crisis via higher energy prices, loss of tourism and disruptions to trade.
- As a net importer, has/oil shortages and higher prices will weigh negatively on Turkey’s inflation profile adding to re-existing price risks with the CBRT refusing to hike policy
- Should a severe bout of risk aversion translate into TRY weakness, the CBRT will be forced to resume burning reserves against its previous promises – making its position all the more precarious
- Most analysts believe the CBRT & state banks will vehemently defend the 14.00 handle after making numerous promises of TRY stability in recent weeks.
- The 5Y CDS is up +15bp this morning, but 97bp shy of its 2021 high at 623.
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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