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TurkGBs Trim Gains W/w as UST Yields Keep EM Under Pressure

TURKEY
  • Local & USD rates remain unch this morning having trade broadly mixed last week after the CBRT revived its bond buying programme for the first time in over a year.
  • Friday’s session closed broadly weaker across the curve with a bear flattening bias holding.
  • W/w, front end yields finished a fraction higher while 5-10Y tenors held -19-39bp lower with the 7Y most bid.
  • This week’s focus will be on local current account data, industrial production, and UST price action around US CPI data as markets price in a faster hiking trajectory and balance sheet run-off.
  • TurkGB Curve w/w


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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