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Turkish Bonds Gain W/W as UST Yields Soften, 5Y CDS Falls

TURKEY
  • Local & USD rates remain unch this morning, following yesterday’s broadly positive session.
  • TurkGB yields fell -18-33bp across the curve with 5-7Y tenors outperforming, while USD bonds fell -10-35.8bp across the curve sustaining the weekly bull steepening bias.
  • W/w TurkGBs trade -40-45bp bull flatter in 5-10Y yields, while the USD curve holds -19-116bp bull steeper in 1-2Y tenors.
  • The 5Y CDS has also fallen on week due to the recent period of relative calm in Turkish markets – marking a -30bp decline since Monday.
  • 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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