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TurkGBs Go Offered as Sell-Side Notes Vulnerability to Higher UST Yields

TURKEY
  • Local & USD rates unch this morning, having sold off yesterday broadly in line with souring EM FI risk sentiment.
  • Local curve bear steepened +11bp in the 10Y, trading a fraction below 11.30.
  • USD bonds also went offered across the curve with losses concentrated in the belly (5Y +4.6bp).
  • Sell-side continues to warn about vulnerability of Turkish rates to rising US Treasury yields, which saw a sharp bounce in yesterday's session
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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