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TurkGBs Outperform W/W, Bull Flattening >50bp

TURKEY
  • Local & USD rates unch this morning, having traded firmer in yesterday's broadly risk-on session.
  • Local curve continued to outperform, bull flattening -14-23bp in the 5-10Y portion of the curve with the 10Y leading the move lower.
  • USD bonds, by contrast, bull steepened in the 2-5Y section of the curve – dipping -3.8-5.2bp lower on the day.
  • W/w the local curve trades firmly bull flatter with the 7-10Y tenors -39-53bp lower, while USD bonds are more subdued w/w at -5-9bp lower in 4-10Y yields.
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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