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TurkGBs Trim Losses, But Uncertainty Remains in 2022

TURKEY
  • Local & USD rates remain unch this morning, having traded mixed in yesterday’s session.
  • Yields fell -16bp across the curve with the exception of 5 & 10Y tenors which rose +11-26bp with the 10Y most offered as markets remain uncertain about the new deposit scheme.
  • USD bonds were better bid, however, rallying -32-44bp across the breadth of the curve – maintaining a bull steepening bias.
  • W/w TurkGB yields have trimmed losses across the curve to stands +66-80bp higher in 2-10Y tenors.
  • Credit default swaps have also continued to moderate, falling -67bp from the peak at 624.
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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