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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 trade little changed around the open, having closed broadly weaker across the curve in yesterday’s session following a final -100bp rate cut from the CBRT.
- Yields rose +15-29bp across the breadth with 3 & 10Y tenors underperforming. W/w The local curve heads into the weekend +77-97bp higher in 2-10Y yields, with the belly (4-8Y) most offered at +91-97bp.
- The end of the CBRT easing cycle may help slow the selling pressure slightly in the near-term, but deeply negative real yields should keep TurkGBs acutely vulnerable to a tightening external environment over the medium-term with inflation pegged to rise aggressively in the coming months.
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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