May 17, 2022 07:06 GMT
- Local & USD rates are little changed this morning, having closed yesterday’s session broadly mixed. TurkGBs snapped a multi-session selling spree with yields falling -20-65bp across the curve with the 3Y most bid.
- Conversely, USD bond yields rose +6.3-26.6bp across the curve with a bear flattening bais holding.
- More supporting global risk conditions and a softer USD could see positive momentum continue today in TurkGBs, but the direction of travel remains overwhelmingly negative for Turkish assets on a medium to longer-term outlook.