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Turkish Bonds Hold Steady Into the FOMC, 5Y CDS +5.03bp Since Monday

TURKEY
  • Local & USD rates remain unchanged this morning, having seen a mostly muted session in the lead-up to the FOMC meeting.
  • Local bonds ended marginally firmer, with 5Y yields dipping -4bp. USD bonds continued to see subdued price action, ending a fraction higher across the curve.
  • W/w the local curve remains bull steeper, with 3-6m tenors -42-48bp lower while 8-10Y tenors are positioned +20-27bp higher.
  • Since Monday, the 5Y CDS is up +5.03bp – hovering below the 390 handle.
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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