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TurkGB Yields March Higher as Risk Sentiment Flips Post-FOMC

TURKEY
  • 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


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  • 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