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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
TURKEY
- Local & USD rates are Unch this morning, having been closed for the Ataturk commemoration day yesterday.
- USD bond yields continued to rise, however, closing +9.2-16.5bp higher with a bear flattening bias holding.
- W/W, TurkGBs have snapped their losing spell and stand -32-95bp lower with the belly of the curve most bid. Credit default swaps have resumed their uptrend in line with lira weakness – up +13.45bp on week.
- USD/TRY trades +0.47% higher this morning, having pared yesterday’s move lower on the back of selling pressure on the BBDXY. The cross has returned to the 16.00 handle with negative sentiment towards TRY assets still deeply entrenched.
- Markets will be eyeing the opposition’s protest this weekend against the sentence handed down to CHP chair Kaftancioglu with the US embassy warning of potential police intervention.
- Next week, the CBRT is broadly expected to keep rates on hold – amplifying concerns of unsustainable monetary policy amid higher global inflationary pressures.
- Intraday Sup1: 15.9347, Sup2: 15.8838, Res1: 15.9815, Res2: 16.07, Res3: 16.21
TurkGB Curve w/w
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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