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TurkGBs Weaken as Markets Digest the FOMC Week

TURKEY
  • Local & USD rates open softer this morning amid broad-based risk-off and higher UST yields.
  • Both curves are seen bear flattening in early trade to follow on from a volatile previous week surrounding the FOMC. The TurkGB curve closed +43-113bp higher across the curve with the belly (4-8Y) continuing to bethe most offered.
  • Meanwhile, the USD curve maintained its bear flattening momentum in the 1-10Y section of the curve which rose +49-90bp w/w.
  • Focus will be on the Victory Day parade today and US/China data throughout the week.

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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