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TurkGBs Bear Steepen W/W as Risk-Off Dents Sentiment

TURKEY
  • Local & USD rates unchanged so far this morning, having closed Friday's session on the backfoot. Local TurkGBs softened across the curve, but most notably in the belly: 3-7Y yields +7-11bp.
  • Meanwhile their USD equivalents remained mostly muted to close flat to slightly firmer.
  • W/w the TurkGB curve ended bear steeper with 7-10Y yields feeling the brunt of broad-based risk-off – rising +23-26bp on week.
  • Turkey's 5Y CDS managed to claw back some ground on Friday and may see continued downside momentum in today's session as global risk conditions ease slightly.

  • TurkGB Curve


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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