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TurkGBs Hold Firm Against Broad-Based Risk-Off

TURKEY
  • Local & USD rates remain Unch so far this morning, having traded mixed against a broadly risk-off backdrop in global markets.
  • TurkGBs retained their bullish momentum, closing -12-20bp lower with 5 & 10Y yields outperforming.
  • By contrast, USD bond yields rose in line with the broader EM space, closing +3.1-8.1bp higher on the day.
  • Risks emanating from Russia-West tensions kept risk flows tentative and drove Turkey’s 5Y CDS +13.9bp higher towards 540.
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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