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TurkGBs Bear Flatten as Risk-Off Dents Sentiment

TURKEY
  • Local & USD rates unchanged so far this morning, having ended mostly weaker in yesterday's broadly risk-off session.
  • The local curve bear flattened into the close with 2Y yields lifting +20bp, 5Y +13bp & 10Y +11bp.
  • USD bonds, however, were little changed on the day. 1w USD/TRY risk reversals continue to slide lower this week, while 1w vols remain stable above 13.00 and the 5Y CDS sees little change since Monday.
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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