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TurkGBs Continue to Slide, Curve Bear Steepening Extends W/W

TURKEY
  • Local & USD rates remain unchanged this morning, having closed weaker on Friday's session following softer US NFPs.
  • TurkGBs sold off sharply with the curve retaining its bear steepening bias: 7Y + 13bp, 10Y +23bp.
  • Similarly, USD bonds sold off +6.2-11.6bp across the curve with 5-15Y tenors most offered at +10.7-11.6bp on the day.
  • W/w TurkGBs closed +46-50bp bear steeper in 7-10Y yields, while the 5Y CDS held its sideways range (425-440) on week.

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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