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(M2) Correction Extends


Late Session Rebound


(M2) Corrective Cycle Remains In Play


(M2) Gains Still Considered Corrective

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  • Local & USD rates remain unchanged this morning, having racked up more gains in yesterday’s session.
  • 2, 3 & 10Y yields fell 10-11bp ahead of today’s CBRT meeting, while USD bond yields bull steepened 10-12.7bp in 2-3Y yields.
  • W/w the TurkGB curve stands -104-114bp lower in the 1y-5y section as markets brace for a widely expected hold on policy at today’s CBRT meeting.
  • Credit default swaps also fell -12bp yesterday in line with lower UST yields.
  • TurkGB curve w/w

MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |

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