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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
FX/FI MARKETS
- Local & USD rates remain unch this morning, having closed Friday’s session notably firmer on the back of markets acclimating to the Ukraine crisis.
- This may be short-lived following weekend moves from the West targeting Russia’s international reserves & SWIFT status – sending the markets into risk-off mode.
- Turkish rates remain vulnerable due to their deeply negative real yields and economic exposure to Ukraine & Russia.
- W/w The TurkGB curve rose +171-215bp with a bear flattening bias holding in 1-5Y tenors. Similarly USD bond yields rose +26-61bp across the curve with a bear flattening bias - but remained more resilient than local bonds.
- The 5Y CDS is up +14bp in early trading with Friday’s highs at 628 the next major resistance beyond the 600 handle.
TurkGB Curve w/w
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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