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TurkGBs Make a Notable Turnaround W/W as Energy Pressures Ease Slightly

TURKEY
  • Local & USD rates are unchanged this morning, having closed yesterday’s session broadly mixed to lower.
  • W/w both curves have made gains, with the TurkGB curve -212-227 bear flatter in 7-10Y yields and the USD curve -38-48bp bull steeper in 1-10Y tenors.
  • Both have benefitted from falling oil prices and firmer global risk sentiment on the margins due to cautious progress in Ukraine talks, while a larger TurkGB buyback from the CBRT added support to local bonds.
  • Turkey’s 5Y CDS trades -36bp below Friday’s lows, just above 550 support.
  • TurkGB Curve


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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