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TurkGBs Haemorrhage W/W as Risk-Off Dominates Markets

TURKEY
  • Local & USD rates remains little changed at the open following a fairly dire week for Turkish assets.
  • W/w, TurkGBs haemorrhaged with yields rising +204-304bp across the curve with the belly underperforming as negative sentiment gains traction.
  • USD bonds were more resolute, but saw yields rise +16-86bp across the curve with a bear flattening bias holding.
  • Credit default swaps resumed their run higher – marking a weekly high at 717.654 as headwinds to the Turkish economy continue to rise.

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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