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TurkGBs Continue to Slide as Sentiment Deteriorates, Risk Premia Rise

TURKEY
  • Local & USD rates trade little changed this morning, having slipped into the red once again as Erdogan continued to push his low rates, high growth policy direction.
  • This weaker momentum is likely to filter through into today’s session with the front and belly of the curve most offered w/w.
  • Turkey’s 5Y CDS continues to trend higher above the 500 handle with the next major resistance coming in around the 550-575 zone.

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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