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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
TURKEY
- Local & USD rates remain unchanged this morning, having sold-off sharply following Erdogan's snap removal of the MPC members the opposed a rate cut at the prior CBRT meeting.
- The curve accelerated its weekly bear steepening bias, rising +30-32bp in 5 & 10Y yields. W/w the curve stands +61-71bp bear steeper in 7-10Y yields, forming over half of the +108-122bp seen since the start of October.
- USD bonds also remained under pressure, rising +6-12bp across the curve in yesterday's session, while the curve rose +6-12bp in 1-10Y yields w/w.
- Sovereign risk premia, as reflected by the 5Y CDS, also ticked +27bp higher on week, but pulled back from yesterday's push above the 450 handle.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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