May 06, 2022 07:26 GMT
- Local & USD rates open on the back foot this morning with weak global risk sentiment continuing to drive yields higher.
- UST yields moved sharply higher at the start of the US session, dragging EM FI with them. TurkGB yields rose +10-52bp across the curve with the 3 & 7Y most offered, while USD yields eked out minor bull steepening gains with the 2Y -14.5bp lower on the day.
- W/w the TurkGB curve stands +42-48bp bear steeper in 7-10Y yields, while the USD curve is +23-42bp bear flatter in 1-10Y yields.
- The 5Y CDS has resumed its move higher and is up +21bp since Friday’s close just shy of 640.
TurkGB Curve w/w