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TurkGB Curve Steepens W/W, 5Y CDS Rises +16bp on Ukraine Crisis

  • Local & USD rates remain unch this morning, having seen selling momentum resume in yesterday’s session.
  • TurkGB yields rose +17-25bp across the curve with 3 & 7Y tenors most offered, while USD bond yields also rose +10-19bp with the 10Y most offered.
  • W/w the TurkGB curve trades steeper with 3m-1y tenors -14-30bp lower and 3-7Y tenors +8-17bp higher as mixed risk sentiment in the rates space over DM central bank tightening creates volatility in the curve.
  • Vulnerabilities to the Ukraine crisis have pushed the 5Y CDS up +16bp since Friday, with price action hovering around the 600 mark.

MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |

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