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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

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  • Local & US rates remain unchanged this morning, but may come under early pressure at the open following the snap removal of three CBRT employees in a midnight announcement from Erdogan.
  • Turkish bonds continued to bear steepen in yesterday's session in the lead-up to the FOMC minutes, with 10Y yields ending +12bp higher on the day – diverging from US Treasury yields, which closed bull flatter on the day.
  • W/w the TurkGB curve stands +55-63bp bear steeper in the 7-10Y section of the curve as sentiment remains notably vulnerable and will likely deteriorate further following increased staff turnover at the CBRT.