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TurkGB Curve Bull Steepens W/W, 5Y CDS Stalls Around 440

TURKEY
  • local & USD rates remain unchanged this morning, having closed Friday's session broadly mixed.
  • TurkGBs held onto their gains, closing lower across the curve with the 3Y outperforming at -15bp while the 5-10Y portion of the held 3-4bp lower on the day.
  • USD bonds, however, resumed their weaker trend, with yields rising +3-6.1bp across the curve with weakness concentrated in 5-7Y tenors.
  • W/w, both curves stand bull steeper following the sharp post-CBRT sell off at the back end of the curve the week before.
  • Turkey's 5Y CDS rose towards the end of the week, but fell short of 440 for a second time.
  • TurkGB Curve w/w


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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